Excelsior Correspondent
JAMMU, May 11: Enforcement Directorate (ED) sleuths today raided office and residence of S Harpal Singh Dutta of M/s Dutta Financiers India Ltd at Jammu and seized documents of more than 15 properties.
Official sources said that the team from ED Srinagar today conducted the raid and also done extensive searches of the office premises-cum-residence of Harpal S Duttas and seized documents of immovable and moveable properties. A case FIR No. 302/ 2012 at Police Station Gandhinagar already stands registered against Dutta Finances for cheating hundreds of investors of their hard earned money. Many people in Jammu, Samba, Kathua, Poonch, Baramula and Srinagar had deposited an amount worth over Rs 28 crore with the company on the assurance of the operators to provide double amount after five years.
It was alleged that during April 2011 when some investors demanded interest amount and even the Principal amount, Harpal Singh and his staff started refusing on various pretexts. In a few days, they also closed the company office and Harpal Singh fled to USA with depositors amount of over Rs 28 crore.
During investigation under PMLA ( Money Laundering Act), proceeds of crime worth Rs 32.34 lakh have already been attached by the ED which was found lying in the form of partners’ capital in various small finance firms of Jammu. During today’s raid, the ED team attached 15 properties of Harpal Singh Dutta and seized the documents.
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