ED Files Prosecution Compliant in Money Laundering Case

Directorate of Enforcement (ED) has filed a Prosecution Complaint against 8 accused persons/entities including M/s DJN Commodities and others wherein Cognizance has been taken by the Special PMLA Court, Ranchi on 07.06.2022.

ED had initiated money laundering investigation against M/s DJN Commodities and its Proprietors Late Jitendra Mohan Sinha & Vishal Kumar Sinha on the basis of FIR registered by Jharkhand Police under various section of IPC for cheating innocent people for investing in the Chit Fund Company namely M/s DJN Commodities by assuring a lucrative return of 3% to 4 % per month.

Investigation by ED disclosed that Vishal Kumar Sinha in criminal conspiracy with Late Jeetendra Mohan Sinha, Prashant Kumar, Ivaturi Santosh, Vivek Sinha, Anand Mohan Sinha & Bipin Kumar had opened 43 branches of M/s DJN Commodities in Jharkhand, Bihar, Orissa, West Bengal, Rajasthan, U.P., Gujarat, Delhi and Guwahati without even informing the Multi Commodity Exchange of India Limited (MCX) about opening of 43 branches. 68 bank accounts in the name of accused persons & other companies/ firms were also opened to siphon off the proceeds of crime. They received investor’s money in these bank accounts and diverted the same to other associated companies/firms of the DJN Group & utilized the same for their personal use. Total Proceeds of Crime is Rs. 67.37 Crore in this case.

During the course of investigation, ED attached movable and immovable properties worth Rs. 1.66 Crore generated through proceeds of crime in the name of the company and its directors/suspect persons on 31.12.2019 which was duly confirmed by the Hon’ble Adjudicating Authority under PMLA on 29.7.2021.

Further investigation into the matter is in progress. 

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