Monday, October 25, 2021

Popular finance scam: ED seizes assets worth Rs 31 cr

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The ED found that the Popular Group had made transactions of around Rs 2,000 crore. The probe team also uncovered financial irregularities in 270 branches across the country. On Friday, ED has seized 10 luxurious cars and properties belonging to Popular Group in Kerala, Tamil Nadu and Andhra Pradesh. It is learnt that the cars cost about Rs 2 crores. Gold worth Rs 14 crores hidden at different organisations was also seized. The assets worth Rs 31 crores include cars, jewellery and the fixed deposits in Popular Finance.

The Popular Finance group received gold and cash from over 1,600 customers. The CBI is also investigating 1368 cases related to the scam.

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