The ED has recovered a total of Rs. Assets worth Rs 139 crore seized

- Provisional order was issued under PMLA

- In the case of bike boat Ponzi scheme, Rs. 112 crore and in the Rose Valley case Rs. Assets worth Rs 27 crore were seized

New Delhi: The ED has seized assets worth Rs 113 crore in the Noida bike boat Ponzi scheme money laundering case and Rs 4.5 crore in the Rose Valley money laundering case. Thus, the ED has seized assets worth a total of Rs 15 crore.

The bike boat taxi service, headquartered in Greater Noida, has been accused of defrauding Rs 2,000 crore to Rs 2,000 crore with 2.5 lakh investors from Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.

The ED said in a statement that the assets of Garvit Innovative Promoters Limited (GIPL) and its promoters Sanjay Bhati and others involved in the scam have been seized.

A provisional order was issued under the Prevention of Money Laundering Act (PMLA). The assets seized include flats, university, Arni University land and buildings, fixed deposit.

The ED had registered the case on the basis of an FIR lodged by the Noida police. The scheme was launched in August, 2016.

Assets including land, hotel, bank balance and demand draft have been seized in the Rose Valley money laundering case. The ED said in a statement that the Rose Valley Group of Companies had collected large sums of money from the public by introducing fake schemes.

A total of Rs 104 crore worth of assets have been seized so far in this case. The ED had filed a case against Rose Valley Company, its chairman Gautam Kundu and others in 2012. Kundu was also arrested from Kolkata. The central agency had filed several chargesheets while the investigation was underway.