The Enforcement Directorate (ED) has attached assets worth Rs 17.05 crore in a multi-state co-operative society, namely Arbuda Credit Co-operative Society Ltd. fraud case, under the provisions of Prevention of Money Laundering Act, according to an official statement.The attached assets include a hotel at Mount Abu namely Abu Grand, farmhouses, under-construction real estate projects and residential properties in Rajasthan owned by Rakesh Kumar Agrawal of Mount Abu, read a statement from the law enforcement agency.ED had initiated investigations under Prevention of Money Laundering Act, 2002 (PMLA) against Arbuda Credit Co-operative Society Ltd.(ACCSL) and its Managing Director Rakesh Kumar Agrawal and others on the basis of the case registered by Gujarat Police under Indian Penal Code (IPC) and Prevention of Corruption Act.It has been alleged that Arbuda Credit Co-operative Society Ltd. and Agrawal and others lured the gullible investors to deposit money in various schemes of the ...
