Bengal: Ed took big steps against LFS Broking, which announced money laundering of Rs 266 crore

Kolkata, May 23 (IANS). The Directorate for Enforcement (ED) Kolkata performed a search operation on different premises related to LFS Broking Private Limited and its directors/persons under the Money Laundering Act (PMLA), 2002. During this action, 118 bank accounts related to the revenue of crime were freed and the sale or transfer of 63 crores was banned. Freeze assets contain two hotels, a resort, various pieces of land, a residential bungalow, apartments and one property in the Eagle Heights of Dubai. The market value of these properties is still assessed. In addition, two people named Dilip Kumar Maiti and Mohammad Anarul Islam were arrested under Article 19 of the PMLA. Both were submitted to the Special PMLA Court of Kolkata, where the court detained them for up to 11 days. This matter is related to the fraudulent investment of the general public. The accused took money from people by promising false returns in the name of LFS brokers. The company is registered with Sebi for brokers and investment activities. But the accused deliberately deceived the public by making a firm with a similar name named LFS Broking and PMS services. Investors are ensured that their money is invested in the Sebi-Registard business, while the money is actually invested in LFS brokers and PMS services, and then in immovable properties such as hotels, resorts and Dubai properties through a network of many businesses/firms. The accused has implemented investors through false promises of high returns through seminars, online advertising, social media and other ways. Gradually, his fraud spread to many countries and when the amount invested did not return, several firs were filed against the company and its people. Sebi canceled the registration of the company after a fraud case came to light in 2024. Currently, the crime revenue of approximately 266 crore calls has been identified and further investigation is likely to increase this amount further. -Ians DSC/EKD shares this story -tags