The Jalandhar Enforcement Directorate (ED) team of Punjab raided 11 places in Punjab-Haryana and Mumbai for 72 consecutive hours in a money laundering case. 2 luxury cars and 3 lakh cash have been seized from 6 companies including ViewNow Marketing Services, Big Boy Toys in Gurugram, Panchkula, Jind, Mohali and Mumbai. ED gave this information on Monday night.
ED said that from 17 to 20 January, their team reached the offices and homes of people associated with ViewNow Infratech Limited, Big Boy Toys, Mandeshi Foods Private Limited, Plankdot Private Limited, ByteCanvas LLP, Skyverse, Skylink Network and related organizations.
The raid was conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with the money laundering investigation against ViewNow Marketing Services Limited. During the raid, many items including a Land Cruiser (2.20 crores), Mercedes G-Wagon (4 crores), Rs 3 lakh cash, objectionable documents, records and digital devices have been seized.
Promised higher returns to investors
On the complaint of ED, Gautam Buddha Nagar Police of Noida had registered a case under various sections of BNS 2023. ED investigation revealed that ViewNow Marketing Services Limited, along with other companies, deceived various investors. They were told to give higher returns under the guise of selling cloud particles and leasing those particles back (SLB model). Whereas they did not have any infrastructure for this.
Bought luxury vehicles from income
ViewNow Marketing Services Limited and other companies associated with it purchased luxury vehicles from the income generated from all these things. Funds worth hundreds of rupees were routed through shell companies and further diverted through investment in properties.
Earlier, searches were also conducted on November 26, 2024 at various premises of ViewNow Marketing Services Limited and related entities under the provisions of PMLA, 2002.
The raid was conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with a money laundering investigation against ViewNow Marketing Services Limited. During the raid, several items including a Land Cruiser (Rs 2.20 crore), Mercedes G-Wagon (Rs 4 crore), Rs 3 lakh cash, incriminating documents, records and digital devices were seized.
