<h1>ED raids corporate group for alleged Ponzi scheme under PMLA involving forced re-deposits and asset attachments</h1> The Enforcement Directorate conducted searches across multiple states in connection with a money laundering investigation involving a major corporate group. The raids targeted premises linked to land and share transactions associated with the group. The investigation arises from several FIRs alleging widespread cheating of depositors through forced re-deposits and denial of maturity payments, with over 300 FIRs involving scheduled offences under the Prevention of Money Laundering Act. The agency alleges the group operated a Ponzi scheme, managing funds without depositor oversight, coercing reinvestments, manipulating records, and siphoning funds for illicit purposes including benami assets and personal expenses. Despite financial incapacity, the group continued collecting deposits. The agency has attached significant assets and arrested two individuals connected to the group, who remain in judicial custody. The group's former chief passed away in 2023.