3 weeks ago
Porsche, Mercedes Seized In Assam GoMillions Fraud Case
Some people in India are accused of tricking others out of their hard-earned money.
They ran a company called GoMillions LLP and promised that people's money would grow a little every single day.
They even promised that savings would double in about six months.
Special police officers who watch over money, called the Enforcement Directorate, said the company was not allowed to collect people's deposits.
The officers took away fancy cars worth a lot of money, including a Porsche and a Mercedes-Benz.
They also took bank balances, fixed deposits and a stock trading account worth about Rs 15.25 crore in total.
More than 25,000 people gave the company their savings, and the company owed people about Rs 34.93 crore.
The police believe the money was moved through other companies and into the personal accounts of the people who ran the scheme.
The investigation is still going on.
The Enforcement Directorate attached a Porsche, a Mercedes-Benz, bank balances, fixed deposits and a stock trading account worth about Rs 15.25 crore.
The assets were seized in a money laundering case linked to GoMillions LLP, a multi-level marketing entity accused of running an unregulated deposit scheme in Assam.
Promoters Rishiraj Gogoi, Joy Modak and associates allegedly collected deposits via 'TradeBull', promising 0.85% fixed daily returns and doubled investments in about six months.
The probe, based on a CBI FIR registered by its anti-corruption branch in Guwahati, uncovered data on more than 25,410 unique investor identities and a total payment liability of around Rs 34.93 crore.
About Rs 63.41 crore was credited to GoMillions LLP's principal bank accounts and layered through connected entities before being diverted to promoters' personal accounts.
- Who
- The Enforcement Directorate (ED), and accused promoters Rishiraj Gogoi, Joy Modak and associates of GoMillions LLP.
- What
- Attached luxury cars, bank balances, fixed deposits and a stock trading account worth about Rs 15.25 crore in a money laundering case linked to an unregulated deposit collection scheme.
- Where
- Assam, India; the CBI FIR was registered by its anti-corruption branch in Guwahati.
- When
- Exact date not specified in the article; the attachment was announced while the investigation is underway.
- Why
- The accused allegedly collected public deposits without regulatory authorisation via 'TradeBull', promising fixed daily returns, and layered the proceeds into personal investments.
Key facts
- Enforcement agency
- Enforcement Directorate (ED)
- Assets attached
- Porsche, Mercedes-Benz, bank balances, fixed deposits, stock trading account
- Total value of attached assets
- Approximately Rs 15.25 crore
- Accused entity
- GoMillions LLP (multi-level marketing company)
- Named promoters
- Rishiraj Gogoi, Joy Modak and associates
- Promised returns
- 0.85% fixed daily; doubling of investment in about six months
- Investor identities / payment liability
- More than 25,410 unique investors; about Rs 34.93 crore liability
- Amount credited to principal accounts
- About Rs 63.41 crore
Sources
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