ED Advances Towards Property Recovery in ₹600 Crore Money Laundering Case
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Synopsis
The ED has initiated the process of recovering properties linked to a ₹600 crore money laundering case involving Sanasam Jacky Singh and the Lamjingba Group, following a fraudulent investment scheme that affected over 15,000 investors.
Key Takeaways
- The ED is pursuing property restitution in a major money laundering case.
- Sanasam Jacky Singh is a key figure in the case.
- Over 15,000 investors were defrauded of approximately ₹600 crore.
- Properties worth ₹63.52 crore have been provisionally attached.
- The High Court of Manipur is involved in the restitution claims process.
New Delhi, April 3 (NationPress) The Directorate of Enforcement (ED) Imphal Sub-Zonal Office has made a crucial move towards the recovery of properties linked to a money laundering investigation involving Sanasam Jacky Singh and other officials from the Lamjingba Group of Companies.
This case stems from seven FIRs lodged by the Manipur Police, concerning a deceitful investment scheme that swindled over 15,000 investors out of an estimated ₹600 crore.
The ED's inquiry disclosed that the Lamjingba Group, headed by Sanasam Jacky Singh, was running a high-risk “investment/deposit scheme” that promised unusually high returns, enticing unaware investors.
Rather than generating the anticipated returns, the firm utilized the funds to purchase various assets, including both movable and immovable properties. Consequently, Singh faced arrest, prompting the ED to provisionally attach properties valued at ₹63.52 crore.
In light of these revelations, the ED submitted Prosecution Complaint No. 02/2023 on March 20, 2023, against Singh, M. Robindro Singh, and other affiliates of the Lamjingba Group.
The ED also requested the confiscation of the attached properties, which encompass an under-construction hotel property. Charges have been officially filed against the accused in this matter.
Subsequent developments included a writ petition from Wahengbam Pratap Singh and others in the High Court of Manipur.
The petitioners sought the return of properties that had been attached concerning the case. Following this, the High Court instructed the Special Court (PMLA), Imphal East, to scrutinize the claims for property restitution strictly in accordance with applicable legal standards.
In compliance with the court's order, the Special Judge, PMLA, Imphal East, issued an order on March 21, 2025, for the public announcement of claims concerning the properties.
The petitioners were directed to publish notices in two newspapers—one in a vernacular language and another in English—inviting claims from interested parties.
