💨 Abstract

The Enforcement Directorate conducted searches on March 3 in a money laundering case linked to a Rs 4,500 crore investment fraud by Pancard Clubs Limited (PCL) and its promoters, involving over 50 lakh depositors. The case, a violation of the SEBI Act, was based on a collective investment scheme where investors were allegedly defrauded.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖