ED, Guwahati Zonal Office has provisionally attached bank balances, fixed deposits, a stock trading account, motor vehicles (including a Porsche and a Mercedes-Benz) and cash worth Rs. 15.25 Crore (approx.) under PMLA, 2002, in a money laundering case against Rishiraj Gogoi, Joy Modak and their associates, promoters of M/s GoMillions LLP, matter related to an unregulated deposit collection scheme.
ED attaches assets worth Rs. 15.25 Crore (approx.) in a money laundering case related to
Directorate of Enforcement (ED), Guwahati Zonal Office has provisionally attached bank balances, fixed deposits, a stock trading account, motor vehicles and cash worth Rs. 15.25 Crore (approx.) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in a money laundering case against Rishiraj Gogoi, Joy Modak and their associates, promoters of M/s GoMillions LLP, matter related to an unregulated deposit collection scheme.
ED initiated investigation on the basis of FIR registered by the Central Bureau of Investigation, Anti-Corruption Branch, Guwahati (originally registered as Geetanagar P.S. Case No. 174/2024), for offences under the Bharatiya Nyaya Sanhita, 2023 read with the Banning of Unregulated Deposit Schemes Act, 2019. The FIR alleges that Rishiraj Gogoi and Joy Modak, partners of M/s GoMillions LLP, in the guise of a product-based multi-level marketing enterprise styled “TradeBull”, solicited deposits from members of the public in Guwahati and adjoining districts of Assam upon the false promise of a fixed daily return of 0.85 per cent and doubling of the invested amount within approximately six months, without any registration or authorisation from any regulator to collect public deposits.
Investigation under PMLA revealed that the accused persons collected deposits from thousands of members of the public through a dedicated online portal and mobile application, with data recovered from the entity’s server disclosing over 25,410 unique investor identities and an aggregate payment liability of approximately Rs. 34.93 Crore. It was further revealed that credits of approximately Rs. 63.41 Crore were received into the principal bank accounts of M/s GoMillions LLP, from which Proceeds of Crime were thereafter layered through connected entities, namely M/s Rightway Infocom Pvt. Ltd., M/s Carely Solutions Pvt. Ltd. and a partnership concern M/s Lotus Corporation, and diverted into the personal accounts of the promoters and their family members.
The Proceeds of Crime were further found to have been integrated into high-end motor vehicles, a stock market trading account, fixed deposits and unaccounted cash recovered from the possession of the main accused during the predicate investigation.
Therefore, ED has provisionally attached bank balances of the entities and individuals concerned, fixed deposits, a trading account maintained with a stock-broking firm, three motor vehicles (including a Porsche and a Mercedes-Benz) and cash, aggregating Rs. 15.25 Crore (approx.).
Further investigation is under progress.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.