ED attaches ₹1,986cr in PACL ponzi scheme crackdown
Business
The Enforcement Directorate (ED) has provisionally attached 37 properties worth ₹1,986.48 crore in Punjab and Rajasthan under the Prevention of Money Laundering Act (PMLA), all linked to PACL Ltd's massive Ponzi scheme.
For years, PACL promised land deals but ended up cheating millions of people out of over ₹60,000 crore—most investors never got the land they paid for.
What's happening now?
This latest asset grab pushes total attachments in the case to ₹7,589 crore.
The investigation started after a CBI case against PACL and its late promoter Nirmal Singh Bhangoo.
While authorities have filed charge sheets and refunded about ₹1,725 crore to nearly 27 lakh applicants so far, most victims are still waiting for justice—and their money back.