The Enforcement Directorate has auctioned an Aircraft (Hawker 800A) through MSTC Limited for a sale consideration of three crore rupees.
ED, in a statement, said that the Aircraft was seized during a search operation conducted on the 7th of March last year.
ED’s Hyderabad Zonal Office seized the aircraft from Rajiv Gandhi International Airport in a PMLA case against Amardeep Kumar, Capital Protection Force Pvt. Ltd. and others.
Investigation in the case revealed that Amardeep Kumar, Capital Protection Force Pvt. Ltd, and others defrauded a large number of investors through a Ponzi scheme to the tune of 792 Crore rupees on the pretext of returning a higher amount to the investors that was received under an invoice discounting scheme.
The sale consideration to be received from the purchaser shall be utilised by the ED for restitution to the genuine investors in accordance with the provisions of the PMLA, 2002. Further investigation is in progress.
