Porsche, Mercedes Seized In Assam Fraud Case. Accused Ran Marketing Scheme
The Enforcement Directorate has seized luxury assets and bank accounts worth Rs 15.25 crore linked to GoMillions LLP, a multi-level marketing firm in Assam. The company is accused of running an unregulated deposit scheme that promised high returns to over 25,000 investors.
Why it matters
This case highlights the ongoing regulatory crackdown on fraudulent financial schemes and multi-level marketing scams that exploit retail investors in India.
The Enforcement Directorate has attached luxury cars, a Porsche and a Mercedes-Benz, bank balances, fixed deposits, and a stock trading account worth approximately Rs 15.25 crore in a money laundering case linked to GoMillions LLP - a product-based multi-level marketing entity accused of running an unregulated deposit collection scheme in Assam.The probe agency had begun its probe based on a CBI FIR registered by its anti-corruption branch in Guwahati.According to officials, the accused - the company's promoters Rishiraj Gogoi, Joy Modak and their associates - allegedly operated a marketing agency called 'TradeBull' and collected deposits from people by promising fixed daily returns of 0.85 per cent and doubling of investments in around six months.
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