Money Laundering Probe Uncovers Rs 30 Crore Resort Seizure in Fraudulent Foreign Exchange Investment Scheme
The Enforcement Directorate seized a resort property worth Rs 30 crore in Rameswaram, Tamil Nadu, as part of a money-laundering investigation. The action targets two trading companies accused of running fraudulent foreign exchange investment schemes. Investigators allege the firms used dummy accounts to divert investor funds, procure personal assets, and operated without RBI authorization. Several individuals have been arrested, and chargesheets have been filed.