Estimated reading time: 2 minutes
The Enforcement Directorate (ED), Mumbai Zonal Office, has taken significant action in connection with an ongoing investigation into a Ponzi scheme allegedly orchestrated by Vinod Khute, owner of VIPS Group of Companies. As part of their probe under the Prevention of Money Laundering Act (PMLA), ED has issued a Provisional Attachment Order, attaching immovable assets valued at Rs. 8.98 Crore.
These assets, comprising five residential flats, two multipurpose halls, two office spaces in Pune, and a land parcel in Ahmednagar district of Maharashtra, are alleged to be owned by various family members of Vinod Khute. The investigation stems from an FIR registered by the Bharti Vidyapeeth Police Station, Pune, under various sections of the Indian Penal Code.
ED’s investigation has uncovered a complex web of illicit financial activities allegedly masterminded by Vinod Khute, who is suspected to be residing in Dubai. Khute is accused of running illegal trades, crypto exchanges, and forex trading through Dubai-based firms, including M/s Kana Capital Limited.
According to the Enforcement Directorate, Khute established multiple companies, including M/s VIPSWALLET Pvt. Ltd., M/s VIPSTRADE Finance Private Limited (M/s VTFPL), M/s Kana Capitals Limited, M/s Global Affiliate Business (GAB), VIPS Securities, and VIPS Properties, to facilitate these illegal activities. Funds collected from investors were allegedly routed through shell companies and dummy accounts to evade detection.
Furthermore, ED claims that funds were transferred out of India to Dubai through hawala operators, exchanged for cryptocurrency such as USDT, to avoid regulatory scrutiny and facilitate money laundering. The proceeds of the crime, totaling over Rs. 100 Crore, have allegedly been utilized by Khute for personal expenses and acquiring properties in Dubai and India.
Previously, ED had issued a Provisional Attachment Order attaching overseas assets worth Rs. 37.50 Crore belonging to Vinod Khute. With the latest attachment, the total amount now stands at Rs. 70.89 Crore. The investigation continues as authorities seek to unravel the full extent of the alleged financial irregularities and bring the perpetrators to justice.
Latest Stories
Aries (March 21 - April 19) Under the fiery influence of Mars, Aries, brace yourself for a surge of energy and determination. This period marks a time of dynamic action and assertiveness. Embrace…
Click here to Read more
Known for her love of nature, actress Shehnaaz Gill recently shared enchanting photos on social media, showcasing her deep connection with the outdoors. Captioned "mazze main raho," the images capture her joy as…
Click here to Read more
Kiran Rao's directorial venture, "Laapataa Ladies," hit theaters on March 1, 2024, receiving widespread acclaim from critics and audiences alike. The film's compelling narrative and stellar performances garnered praise, prompting a release on…
Click here to Read more
The much-awaited sequel to the 2021 blockbuster "Pushpa: The Rise," "Pushpa 2: The Rule," directed by Sukumar Bandreddi, is generating immense anticipation among fans. Today, the makers treated audiences to the film's inaugural…
Click here to Read more
Kriti Sanon is currently riding high on the waves of success with her consecutive hits, "Teri Baaton Main Aisa Uljha Jiya" and "Crew," both making a significant mark at the box office. With…
Click here to Read more
Bipasha Basu and Karan Singh Grover celebrated their 8th wedding anniversary yesterday, marking another milestone in their journey of love. The couple, who first met on the sets of "Alone," have since become…
Click here to Read more
Recently, Ira Khan took to social media to offer fans a glimpse into a delightful gathering with her father, Aamir Khan, renowned actress Rani Mukerji, and her husband, Nupur Shikhare. The evening appeared…
Click here to Read more
Actress Aditi Rao Hydari, currently immersed in promoting her highly anticipated show "Heeramandi" with Sanjay Leela Bhansali, recently dazzled fans with her sartorial choice. Sharing pictures in a captivating navy blue anarkali adorned…
Click here to Read more
Beloved for her role as Kinjal in the TV series "Anupamaa," Nidhi Shah recently graced the screening of "Broken News Season 2," much to the delight of fans. However, it was her heartwarming…
Click here to Read more
Actress Rupali Ganguly, who turned a year older on April 5, celebrated her birthday in style with a grand bash in the city on April 30. Despite spending her special day with family…
Click here to Read more
Jasmin Bhasin and Aly Goni, a couple adored by many since their Bigg Boss 14 days, are currently basking in the beauty of Mauritius. Their vacation is not just about relaxation but also…
Click here to Read more
The India Meteorological Department (IMD) has issued a heat wave advisory for various states across India, forecasting heat wave conditions in isolated pockets. According to IMD forecasts, isolated pockets of Gangetic West Bengal,…
Click here to Read more
The National Center for Seismology (NCS) has reported an earthquake with a magnitude of 4.5 in Afghanistan. The seismic event occurred at 16:03:52 IST on May 1, 2024. The earthquake, with a depth…
Click here to Read more
The much-anticipated motion poster of the Hindi-Gujarati bilingual film "Man Of Steel: Sardar" has finally been unveiled. Directed and written by Mihir Bhuta, the film promises to be a gripping tale that transcends…
Click here to Read more
The India Meteorological Department (IMD) has issued heat wave advisories for several regions across the country, indicating the likelihood of severe heat wave conditions in specific areas. According to IMD forecasts, many pockets…
Click here to Read more
Assam Chief Minister Himanta Biswa Sarma extends heartfelt greetings to the residents of Gujarat on the occasion of Gujarat Day. Recognizing Gujarat's rich historical heritage, Sarma acknowledges the state's pivotal role in India's…
Click here to Read more
Delhi Police responded promptly to reports of bomb threats in schools received earlier today, taking immediate action to ensure the safety of students and staff. Preliminary investigations conducted by the police found no…
Click here to Read more
Deepika Padukone, the esteemed Bollywood actress renowned for her captivating on-screen presence, continues to bask in the glory of her immense stardom. Kicking off her 2024 with a remarkable performance as a Squadron…
Click here to Read moreFinance Minister Nirmala Sitharaman commends the remarkable milestone of GST collection surpassing the ₹2 lakh crore benchmark, citing it as a testament to the robust momentum in the economy and effective tax collection…
Click here to Read more
As we commemorate International Labour Day, also known as May Day, we pay homage to the indomitable spirit of the global workforce. This significant day, celebrated on May 1st each year, serves as…
Click here to Read more
The National Center for Seismology (NCS) has reported an earthquake measuring 3.4 on the Richter scale in Kishtwar, Jammu and Kashmir. The seismic event occurred at 01:33:44 IST on May 1, 2024, with…
Click here to Read more
Union Minister Nitin Gadkari extols the virtues of the Parwanoo-Solan stretch on NH-05 in Himachal Pradesh as a hub for electronic and eco-friendly industries. Renowned for its scenic beauty and conducive environment, this…
Click here to Read more
The Defence Research and Development Organisation (DRDO) has marked a significant advancement in India's defence capabilities with the successful flight-testing of the Supersonic Missile-Assisted Release of Torpedo (SMART) system. Conducted at around 0830…
Click here to Read more
Assam Chief Minister Himanta Biswa Sarma lauded the state's remarkable 25% year-on-year growth in GST, highlighting its significance in the process of nation-building. Sarma expressed his happiness at Assam's expanding role in contributing…
Click here to Read more
Five middle school students have been banned from future competitions after they refused to compete against a transgender athlete in the shot put event. The incident, which occurred during the Track and Field…
Click here to Read more
Neetu Kapoor, the veteran actor, honored her late husband and frequent co-star, Rishi Kapoor, on the fourth anniversary of his passing. She expressed that life hasn't been the same since his departure. Rishi…
Click here to Read more.jpg "Record High GST Collections Reach ₹2.10 Lakh Crore in April 2024 27")
In a remarkable display of economic resilience, the Gross Goods and Services Tax (GST) collections in April 2024 soared to an all-time high of ₹2.10 lakh crore. This achievement represents a noteworthy 12.4%…
Click here to Read more
Popular television couple Ankita Lokhande and Vicky Jain continue to steal hearts with their latest endeavors and affectionate gestures. Their recent music video release, "Laa Pila De Sharaab", not only marks Vicky's acting…
Click here to Read more
Renowned actress and Member of Parliament, Hema Malini, joins in the festivities of Maharashtra Day, commemorating the state's formation on May 1, 1960. Fondly known as Maharashtra Din, this state holiday holds special…
Click here to Read more
A sneak peek into the behind-the-scenes of 'Vicky Vidya Ka Woh Wala Video' has fans excited as Rajkummar Rao and Triptii Dimri bid farewell to the shoot with a fun-filled video. The actors…
Click here to Read more.jpg "Manipur CM N. Biren Singh Pays Tribute to Workers on International Workers' Day 31")
In commemoration of International Workers' Day, Chief Minister N. Biren Singh of Manipur extends gratitude to workers globally for their indispensable contributions to society. Singh highlights the pivotal role played by workers in…
Click here to Read more
Renowned for his captivating performances, Rajkummar Rao is set to mesmerize audiences once again in his upcoming film, directed by Tushar Hiranandani. Reprising the role of visually impaired entrepreneur Srikanth Bolla, the film…
Click here to Read more
The National Council of Educational Research and Training (NCERT) has opened admissions for Teacher Education Programs at its esteemed Regional Institutes of Education (RIEs) located across India. Aspiring educators can pursue various programs…
Click here to Read more
Uttarakhand Chief Minister Pushkar Singh Dhami conveyed heartfelt birthday wishes to the Union Minister of State for Defense and prominent MP from Nainital Lok Sabha seat, Shri Ajay Bhatt. Extending his greetings, CM…
Click here to Read more
As anticipation mounts for Allu Arjun's upcoming film 'Pushpa 2', fans were thrilled to see a new poster released just a day before the launch of the first song, "Pushpa Pushpa". The film,…
Click here to Read more
In the first two phases of the General Elections 2024, voter participation has been robust, reflecting the electorate's engagement in the democratic process. According to official data, phase 1 recorded a voter turnout…
Click here to Read more
Anupam Kher and Jr. NTR: Veteran actor Anupam Kher took to Twitter to share a delightful encounter with Telugu cinema's superstar, Jr. NTR. Kher posted a picture alongside Jr. NTR, expressing his admiration…
Click here to Read more
In response to a request from the repairing agency contracted by the Public Works Department (PWD), Delhi Traffic Police has announced a change in the schedule for repair work on the Naraina flyover.…
Click here to Read more
As Anushka Sharma turns 36 today, May 1, 2024, we take a glimpse into her remarkable voyage as one of Bollywood's leading actresses, a thriving film producer, entrepreneur, and more. Early Beginnings and…
Click here to Read more
Gujarat Statehood Day: Prime Minister Narendra Modi commemorated Gujarat's Statehood Day with heartfelt tributes to the state's cultural legacy and the resilience of its people. Reflecting on the occasion, PM Modi emphasized the…
Click here to Read more
The much-anticipated romantic drama, "Auron Mein Kahan Dum Tha," starring Ajay Devgn and Tabu, has finally secured a new release date. Set between 2000 and 2023, the film promises to be a captivating…
Click here to Read more
Elon Musk, CEO of Tesla, recently took to social media to address concerns stemming from reports of layoffs within the company, particularly affecting the team behind Tesla's Supercharging network. In a post on…
Click here to Read more
