The ED, Guwahati Zonal Office, has provisionally attached bank deposits, fixed deposits, a stock trading account, motor vehicles (including a Porsche and a Mercedes-Benz), and cash worth approximately ₹15.25 crore under the Prevention of Money Laundering Act, 2002, in a money laundering case involving an irregular deposit collection scheme linked to the promoters of M/s Gomillions LLP—Rishiraj Gogoi and Joy Modak—and their associates.
The Enforcement Directorate has seized assets worth approximately Rs 15.25 crore in a money laundering case related to M/s Gomillions LLP.
The Enforcement Directorate (ED), Guwahati Zonal Office has provisionally attached bank deposits, fixed deposits, stock trading accounts, motor vehicles and cash worth approximately Rs 15.25 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in a money laundering case related to an irregular deposit collection scheme against promoters of M/s Gomillions LLP, Rishiraj Gogoi, Joy Modak and their associates.
The Enforcement Directorate (ED) initiated an investigation based on an FIR registered by the Central Bureau of Investigation, Anti-Corruption Branch, Guwahati (originally registered as Geetanagar Police Station Case No. 174/2024) under the provisions of the Indian Penal Code, 2023, read with the provisions of the Prohibition of Unregulated Deposit Schemes Act, 2019. The FIR alleges that Rishiraj Gogoi and Joy Modak, partners of M/s Gomillions LLP, operating under the guise of a product-based multi-level marketing enterprise named “Tradebulls,” without any registration or authorization from any regulator to collect public deposits, collected deposits from the general public in Guwahati and surrounding districts of Assam by making false promises of assured returns of 0.85 percent per day and doubling the invested amount within approximately six months.
An investigation conducted under the Prevention of Money Laundering Act (PMLA) revealed that the accused individuals collected deposits from thousands of members of the public through a dedicated online portal and mobile application. Data obtained from the entity’s servers revealed the identities of over 25,410 unique investors and a total payment liability of approximately ₹34.93 crore. It was further revealed that deposits totaling approximately ₹63.41 crore were received in the main bank accounts of M/s Gomillions LLP, from which the proceeds of crime were subsequently layered through affiliated entities, namely M/s Rightway Infocom Private Limited, M/s Carely Solutions Private Limited, and the partnership firm M/s Lotus Corporation, and transferred to the personal accounts of the promoters and their family members.
It was further found that the proceeds of crime were consolidated in high value motor vehicles, stock market trading accounts, fixed deposits and unaccounted cash recovered from the possession of the main accused during investigation of the previous crime.
Hence, the ED has provisionally attached bank deposits, fixed deposits, a trading account maintained with a stock broking firm, three motor vehicles (including a Porsche and a Mercedes-Benz) and cash of the concerned entities and individuals, having a total value of approximately Rs 15.25 crore.
Further investigation is ongoing.
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.