A Special PMLA (Prevention of Money Laundering Act) court of Panchkula on Thursday granted bail to Bansi Lal and Radhe Shyam, directors of the Future Maker Life Care Private Limited, in a 2019 money laundering case.
Around 31 lakh investors were cheated by way of a multi-level marketing (MLM) by the Haryana-based company through a ponzi scheme.
The court had on Tuesday also granted anticipatory bails to 10 other accused.
On January 23, the Enforcement Directorate (ED) had filed a chargesheet against the accused, attaching assets worth Rs 261.35 crore consisting of properties across Chandigarh, Delhi, Hisar, Adampur, Kulam along with some bank balance and cash.
In a statement issued by the ED at the time of filing the chargesheet, it had stated that Radhe Shyam and Bansi Lal, both residents of Haryana, had floated companies in the name of Future Maker Life Care Pvt Ltd and FMLC Global Marketing Pvt Ltd. The case had caught ED’s attention when multiple FIRs had been registered against the accused in Haryana as well as Telangana under sections of cheating, criminal conspiracy and sections of prize chit and money circulation for cheating lakhs of people.
“Radhey Shyam used to lure innocent persons through speeches in fancy seminars conducted across India promising high return of upto 5-8 times of the investment in two years. Bansi Lal was the financial mastermind whose role was layering and laundering of the tainted money collected from the investors in various paper concerns,” the ED in its statement had said.