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Guwahati: The Directorate of Enforcement (ED), Guwahati Zonal Office, has seized 15 vehicles, including several high-end luxury cars, from different parts of Assam in connection with a money laundering case.
The seizure was carried out under the Prevention of Money Laundering Act, 2002. The recovered vehicles include:
- 3 Audi Q3 SUVs
- 1 Audi A4
- 2 Mahindra XUV700 (Top Model)
- 1 Mahindra Scorpio N (Top Model)
- 7 Hyundai i10 Grand/NIOS
- 1 Tata Tiago
According to ED, these vehicles were identified based on credible intelligence and were found to have been purchased using proceeds of crime.
ED’s investigation is part of a larger crackdown on multiple Ponzi schemes operating in Assam. In this case, Finxpert Trading Solutions (also known as Trading FX (OPC)) reportedly lured investors by promising unusually high returns of up to 18% per month. Agents promoting the scheme were offered an additional 3% commission over the investor returns.
Investors were paid with money collected from new entrants, a typical Ponzi scheme structure. After collecting a substantial amount, payments of interest and principal were stopped entirely. So far, the total amount collected through the scheme has been estimated at around ₹258 crore.
The ED stated that many of the seized vehicles were gifted to agents based on the volume of investments they brought in. These gifts were widely publicized as a marketing tactic to attract more unsuspecting investors.
Further investigation is currently underway.
