ED conducts raids arrested Manipur ponzi firm MD

The Enforcement Directorate (ED) today said it had arrested the managing director of a Manipur-based company under provisions of the Prevention of Money Laundering Act in a case linked to a ponzi scheme through which numerous investors were duped to the tune of Rs 580 crore.

The ED said it had seized Rs 34 lakh and froze bank deposits worth over Rs 1.34 crore following raids on multiple premises of Lamjingba Group of companies and its MD Sanasam Jacky Singh in Gurugram, Kolkata and Manipur recently. Singh was arrested on January 21 and a court later sent him to the ED custody, it said.

#EnforcementDirectorate (ED) said it conducted searches at eight locations in #Gurugram, #Kolkata and #Manipur belonging to Sanasam Jacky Singh, Managing Director of Lamjingba Group of companies based in Manipur in a money laundering case linked to a Ponzi scheme.@dir_ed pic.twitter.com/SwJDQ11hpx

— IANS (@ians_india) January 24, 2023