ED takes over four TN scam probes

Chennai: The Enforcement Directorate has stepped into the investigation of four financial scams busted by the Economics Offences Wing (EOW) CID in Tamil Nadu involving Aarudhra Gold Trading Private Limited, LN-IFS, Hijau Associates and Elfin.
The ED officials, who have begun investigations based on the case slapped on the suspects who resorted to money laundering, will soon conduct detailed searches of the four companies and have collected the first information report (FIR) filed against the firms from the EOW-CID.
According to the FIR, Aarudhra Gold Trading Private Limited cheated at least 1 lakh investors of 2,438 crore from September 2020 to August 2022, with police seizing 5.69 crore in cash and 1.13 crore worth of gold and silver ornaments during checks. They also froze 96 crore in the bank accounts of the company and its top officials.
LN-IFS received investments of 5,900 crore from 89,000 people, said the FIR and named 19 suspects, three of who were arrested.
Hijau Associates and its sister concerns such as SG Agro Products, Aruvi Agro Products, Sai Lakshmi Enterprises, Ram Agro Products and RMK Bros collected deposits from 13,000 people. The EOW-CID has released photographs of the accused V Rajasekar of Villivakkam, V Usha of Mogappair, V Deepak Govind Prasad of Poonamallee, B Narayani of Tiruvallur and C Rumesh Kumar of Chengalpet from Aarudhra Gold Trading Private Trading Limited and said anyone with information about these people can contact the SP Office (EOW) at 044-22504311 and the EOW Control Room at 044-22504332. Details of the informants will be kept confidential, it said.tnn