ED Search in Aarudhra Gold Trading Ponzi Scam: 21 Locations Raided Across India.

Headnote:

The Enforcement Directorate (ED) conducted extensive search operations at 21 locations across Chennai, Kancheepuram, Mumbai and Kolkata in connection with a large-scale Ponzi/investment scam run by Aarudhra Gold Trading Pvt. Ltd. (AGTPL). The investigation pertains to fraudulent mobilization of deposits from over 1 lakh investors, diversion of funds exceeding ₹1,000 crore, layering of proceeds, and use of dummy directors. ED seized cash, property documents and digital evidence. Investigation under PMLA continues.

Background:

• The investigation arises from an FIR registered by the Economic Offences Wing (EOW), Chennai for offences under:

– IPC, 1860

– Banning of Unregulated Deposit Schemes Act, 2019

– RBI Act, 1934

– Involving AGTPL, its Directors, employees, and agents.

• AGTPL allegedly collected huge public deposits by promising:

– Monthly returns of 10% to 30%,

– Incentives including gold coins,

– Referral commissions up to 2% on deposits up to ₹5 lakh.

• EOW’s charge sheet (CC No. 09/2023) names 40 accused persons/entities.

• As per police records:

– Affected depositors: 1,04,433

– Claims submitted: ₹2,438 crore

– Default amount quantified: ₹1,404 crore

– Principal accused V. Rajasekhar and his wife remain absconding.

ED’s Observations:

• Analysis of AGTPL-linked accounts revealed total credits/debits of approximately ₹2,000 crore.

• Over 1,230 high-value debit transactions (above ₹10 lakh each), totalling ₹1,060 crore, were found to be circular fund movements, indicating layering.

• Large-scale diversion of public deposits for personal use and non-business expenses was detected.

• Statements of individuals involved in high-value transactions confirmed further fund diversion and layering.

• Searches led to major findings:

– Several directors were dummy directors, performing only menial jobs and unaware of company affairs.

– Seizure of ₹22 lakh in cash.

– Recovery of property documents worth above ₹1.50 crore.

– Seizure of substantial digital evidence, including financial records, investment ledgers, and property details.

Legal Provisions Discussed:

• Prevention of Money Laundering Act, 2002 (PMLA) – Investigation and seizure powers.

• Indian Penal Code, 1860 – Fraud, cheating, criminal breach of trust.

• Banning of Unregulated Deposit Schemes Act, 2019 – Prohibition of illegal deposit schemes.

• Reserve Bank of India Act, 1934 – Regulatory framework for financial activities.

Status

Further investigation is ongoing under the PMLA.

Citation: Press Release: 27.11.2025

Case/Action: Directorate of Enforcement v. Aarudhra Gold Trading Pvt. Ltd. & Ors.

Authority: Directorate of Enforcement (ED), Chennai Zonal Office

Date of Action: 26 November 2025

Statutes Invoked: PMLA, 2002; IPC, 1860; BUDS Act, 2019; RBI Act, 1934

FIR Basis: EOW Chennai

Nature: PMLA Search Operation in Ponzi/Investment Fraud Case