Legal Nation

ED attaches Icore Group’s assets in over Rs 2400 crore chit fund scam

New Delhi: The Enforcement Directorate attached assets Rs 300 Crore of Icore Group of Companies in a chit fund scam case.

The agency alleged that the group illegally raised a huge amount of money from lakhs of gullible investors by promising exorbitant returns.

It further said that so far the proceeds of crimes (POC) have been quantified to the tune of Rs 2400 crore.

The properties attached by the Directorate belong to 11 Icore group companies, its directors – Late AnukulMaiti, Kanika Maiti, and their family members.

The properties attached comprise of bank accounts, plots, factories, shopping malls and various residential properties.