Enforcement Directorate Files Prosecution Complaint Against Ajit Kumar Gupta and Associates for Money Laundering under PMLA
(Judicial Quest News Network)
On September 2, 2024, the Enforcement Directorate (ED), Lucknow Zonal office, filed a Prosecution Complaint (PC) against Ajit Kumar Gupta, Mrs. Neeharika Singh (IFS), and three entities—M/s Anee Bullion and Industries Pvt. Ltd., M/s Anee Commodity Brokers Pvt. Ltd., and M/s Anee Securities Pvt. Ltd. The complaint was filed before the Hon’ble Special Court (PMLA) in Lucknow under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. On November 24, 2024, the Hon’ble Court took cognizance of the complaint.
The ED’s investigation stems from 33 FIRs filed across multiple police stations in Uttar Pradesh between February 21, 2020, and October 26, 2020. These FIRs were registered under various sections of the Indian Penal Code (IPC) following numerous complaints from investors alleging fraud and forgery by Ajit Kumar Gupta, the promoter/director of the Anee Group of Companies, and several associates. In response, the law enforcement agency (LEA) filed 25 charge sheets in 12 of these FIRs.
According to the ED’s investigation, Ajit Kumar Gupta, in collaboration with his associates, engaged in fraudulent activities by soliciting large sums of money from unsuspecting investors. These funds were collected under deceptive investment schemes, including the Daily Deposit Scheme, Monthly Recurring Deposit Scheme, and Fixed Deposit Scheme, with promises of exceptionally high returns—up to 40% annually. However, the returns were never paid out.
As the schemes failed, Gupta further used the account of M/s Eye Vision Credit Co-operative Society Ltd., a society controlled by his associates, to collect additional funds under the guise of new return-linked investment programs. The ED’s probe revealed that the total amount defrauded from investors amounted to approximately Rs. 60 Crore.
The investigation also uncovered that the proceeds of crime (POC) generated from these fraudulent schemes were laundered through multiple companies associated with the Anee Group. Gupta and his associates used the illicit funds to acquire immovable properties, including houses and agricultural land, in the names of Ajit Gupta, his wife (Mrs. Niharika Singh, an Indian Foreign Service officer), and other individuals.
In its interim findings, the ED identified assets worth Rs. 9.10 Crore—both immovable and movable—that were provisionally attached under Provisional Attachment Orders issued on March 31, 2023 (for Rs. 7.07 Crore) and December 20, 2023 (for Rs. 2.03 Crore). These attachments were later confirmed by the Adjudicating Authority.
The ED’s investigation into the matter remains ongoing, with further developments expected in the coming months.
