ED attaches ₹155cr assets in ₹1,600cr investment scam
The Enforcement Directorate (ED) has attached 212 properties worth over ₹155 crore tied to a huge financial fraud by LFS Broking Pvt Ltd and its associates.
The scam involved fraudulent mobilization of about ₹1,600 crore from investors.
Victims were lured with promises of "guaranteed" monthly returns, but their money was secretly funneled into lookalike companies, making the whole operation seem legit when it wasn't.
Investigation is on
Investigators say Saiyad Jiyajur Rahaman masterminded the scheme, collecting over ₹600 crore from more than 6,000 people across six states.
He and five others have been arrested and are now in judicial custody.
A case against 10 accused is already filed in a Kolkata court, while the ED continues digging for more details on how this massive scam unfolded.