ED Cracks Down on Alchemist Group: Rs. 29.45 Crore Assets Seized in Money Laundering Probe
(Judicial Quest News Network)
The Directorate of Enforcement (ED), Delhi, has made significant strides in its investigation into money laundering, provisionally attaching movable and immovable properties worth Rs. 29.45 Crore linked to Alchemist group companies.
The attached assets, including an aircraft, flats, and land in various districts, paint a picture of extensive financial malpractice. Led by Kanwar Deep Singh, Ex-Member of Rajya Sabha from AITC, the Alchemist group faces scrutiny for collecting over Rs. 1800 Crore from investors under false promises.
With 18 flats provisionally attached and parcels of land seized across Himachal Pradesh and Haryana, ED’s investigation underscores the group’s alleged fraudulent activities.
Uncovering a web of deceit, the investigation reveals funds diverted to various group companies, with properties purchased under misleading pretences.
Additionally, ED’s probe implicates the Alchemist group in using ill-gotten gains to support political entities, recently attaching Rs. 10.29 Crore belonging to All India Trinamool Congress (AITC).
As the investigation progresses, further revelations are anticipated, shedding light on the intricate layers of financial deception.
