The Enforcement Directorate (ED) intensified its crackdown on the multi-crore PACL fraud case, conducting search operations at three premises in Gurgaon on March 23 under the Prevention of Money Laundering Act (PMLA), 2002.
Key Developments:
- Recent Arrest: Harsatinder Pal Singh, son-in-law of late PACL chief Nirmal Singh Bhangoo, was arrested on March 21 and remanded to ED custody by a Special Court.
- Raids Conducted: Searches targeted properties linked to Smt. Barinder Kaur and Manoj Kumar, a close associate of Singh, yielding crucial digital and property documents tied to PACL’s fraudulent activities.
Case Background:
The ED’s probe stems from a CBI FIR alleging that PACL India Limited, PGF Limited, and their directors, including Bhangoo, operated elaborate investment schemes, duping investors of approximately ₹48,000 crore. The schemes, promising high returns, were later exposed as fraudulent.
Ongoing Investigation:
The ED is scrutinizing the seized evidence to trace the proceeds of crime and identify additional beneficiaries. Further legal actions are anticipated as the investigation progresses.
