New Delhi, Mar 25 (PTI) Assets worth over Rs 1 crore of a Bihar-based man and his family, who allegedly duped gullible investors in lieu of giving them membership of a medical college, have been attached, the Enforcement Directorate (ED) said on Thursday.
It said a provisional order has been issued under various sections of the Prevention of Money Laundering Act (PMLA) for the attachment of 14 immovable properties located in Patna and Sasaram districts of the state, bank accounts and life insurance policies .
The assets belong to Buddhist Welfare Trust chairman Surendra Kumar, his wife Sita Kumari and their daughter Lipsa Kumar, it said in a statement.
The total value of the attached properties is Rs 1.01 crore.
The ED said its probe found that the accused 'used to cheat other members of the trust by giving false assurances that the trust would establish a medical college and donors would be given lifetime membership.' 'They collected money from the members and accumulated a huge amount of money, which was later siphoned off from the account of the trust to the personal accounts of Surendra Kumar, his wife and daughter.' 'This money was used for their personal gains and to acquire movable and immovable properties in their personal names with an attempt to project them as untainted,' the ED alleged.
The central agency said it booked the trust and its promoters after studying a Bihar Police FIR and a chargesheet filed against them. PTI NES AAR AAR