DSK fraud case: ED attaches properties worth Rs 904 crore

The Directorate of Enforcement (ED) Thursday said it has attached properties worth Rs 904 crore in connection with DSK Group money laundering case.

Deepak Kulkarni, the chairman and managing director of the group, his wife Hemanti and son Shirish are accused of cheating 35,000 depositors and investors of Rs 1,129 crore.

The immovable properties attached include land, buildings, flats, insurance policies and cash deposits in bank accounts, an official statement from the directorate said.

The action has been undertaken under the Prevention of Money Laundering Act, 2002, it added.

ED said its investigations had revealed that the trio had conspired to defraud general public and formed eight companies to collect funds from people in Mumbai, Pune, Kolhapur and other cities of Maharashtra for nine years till 2017, when the scam was busted.

The statement said the "money trail" has established that after raising money, the trio laundered the money into 40 other group companies and