ED attaches assets worth Rs 85 crore in Dream Makers fraud case
The Enforcement Directorate provisionally attached assets in the Dream Makers Global Private Limited probe and restituted funds to Bluemax Capital Solutions victims.
The Enforcement Directorate (ED) has provisionally attached movable and immovable assets valued at Rs 85.19 crore in connection with an investment fraud probe involving Dream Makers Global Private Limited (DMGPL), according to The New Indian Express.
The agency initiated investigations into DMGPL following an FIR filed by the Economic Offences Wing (EOW) in Coimbatore. The company and its managers allegedly promised investors high daily returns and the doubling of their capital within 150 days through various software packages.
The ED stated that approximately Rs 400 crore was deposited into three main bank accounts of the company. This money was allegedly moved through various accounts to purchase gold, properties, and other assets, while agents received large commissions.
In a separate matter, the ED's Madurai Sub-Zonal Office restituted Rs 37,57,697 to investors of Bluemax Capital Solutions Private Limited. This action followed a court order from a special court in Madurai.
The Bluemax Capital Solutions case involved the alleged collection of more than Rs 100 crore from the public through promises of attractive investment returns.