ED freezes Rs 1.34 Cr of Lamjingba Group MD

    24-Jan-2023
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By Our Staff Reporter
IMPHAL, Jan 24 : The Directorate of Enforcement (ED) has frozen various assets including two bank accounts with a balance amount of Rs 1,34,01,989 of Sanasam Jacky Singh, Managing Director of Lamjingba Group of companies.
Notably, the ED had conducted searches at 8 different locations situated in Gurugram (Haryana), Kolkata and Manipur in a PMLA case involving a large scale ponzi scheme operated by the accused Sanasam Jacky Singh, Managing Director of Lamjingba Group of companies.
During the search, the ED recovered and seized Rs 34 lakh cash and various incriminating documents such as copies of property documents, list of investors, details of funds collected from the investors, foreign investments. “Further, four immovable properties (commercial buildings/lands) situated in Gurugram and Imphal were also frozen/seized. Subsequently, the accused, Sanasam Jacky Singh was arrested on January 21 and remanded to ED custody.
Earlier, ED had initiated money laundering investigation against Sanasam Jacky Singh, MD of Lamjingba Group of Companies and others, on the basis of 7 PIRs registered by the Imphal West Police under various sections of IPC, alleging that they had cheated more than 15,000 investors in Manipur, misappropriated and siphoned off investor's funds. They had collected huge amounts of money to the tune of more than Rs 580 crore from the public with a promise of exorbitant returns. The company closed its door to the investors since 1st quarter of 2020 without returning the promised funds to the investors. Further investigation is underway.