National Spot Exchange Ltd Fraud Case Ed Chargesheet in Mumbai News in Hindi – Amar Ujala Hindi News Live

The ED said that on January 28, the prosecution complaint was filed against 19 broking units and their directors before the Special Court of Special Money Laundering Act (PMLA) cases in Mumbai. They are accused of ‘tempting’ to trade on this platform in collusion with NSEL officials. The agency said that the court took cognizance of the charge sheet on February 3. The ED has already filed six chargesheets against 94 accused under this investigation and attached assets worth Rs 3,288 crore.

The ED said that the investigation revealed that the broking companies misled their customers by giving ‘false’ assurance about the exchange after registering in NSEL and promoted illegal trade contracts that they did not allow it. The agency said that by ‘nexus’ with broking companies, NSEL established a system that deliberately ‘bypass’ the need for their customers a collection of warehouse receipts or physical items.

The ED, along with the Economic Offenses Branch of the Mumbai Police, registered a criminal case under the PMLA in 2013 to investigate NSEL and other people associated with it. The agency had alleged that in the said case, the accused hatched a criminal conspiracy to cheat investors, motivated them to trade on the NSEL stage, fake warehouses such as fake documents, rigged accounts and thus about 13,000. A criminal betrayal of Rs 5,600 crore was made against investors.