In a significant crackdown on financial fraud, the Directorate of Enforcement (ED), Guwahati Zonal Office, has seized 15 vehicles, including high-end luxury cars and SUVs, in connection with a money laundering case involving M/s Finxpert Trading Solutions OPC Pvt. Ltd. The seizures were made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, across various parts of Assam.
The seized assets include three Audi Q3 SUVs, one Audi A4 sedan, two top-model Mahindra XUV700s, one Mahindra Scorpio-N top variant, seven Hyundai i10 Grand/NIOS vehicles, and one Tata Tiago. According to ED officials, the vehicles were identified and seized based on credible intelligence inputs.
The investigation by the ED is part of a wider probe into several alleged Ponzi schemes operating across Assam. Multiple FIRs had earlier been registered by the Assam Police against such fraudulent schemes.
In one prominent case, M/s Finxpert Trading Solutions OPC Pvt. Ltd., also known as Trading FX (OPC), was found to be at the center of a massive Ponzi scam. The company allegedly lured unsuspecting investors by promising extraordinarily high returns of up to 18% per month. Additionally, agents promoting the scheme were offered a 3% commission on the invested amount, further incentivizing rapid expansion of the fraudulent operation.
The ED revealed that the company amassed a staggering ₹258 crore through this scheme before halting all interest and principal payments to investors, leaving many in financial ruin. A key part of the company’s modus operandi involved using the proceeds of crime to purchase luxury vehicles, which were then gifted to top-performing agents. These lavish rewards were widely publicized to attract more investments and legitimize the fraudulent enterprise.
The use of luxury vehicles as promotional tools was part of an elaborate strategy to gain credibility and attract further investments from the public. These vehicles have now been seized as they were purchased from illegally acquired funds.
Further investigations are ongoing, and the ED is actively tracing other assets acquired through the proceeds of the scam. Authorities have urged the public to remain vigilant and avoid investment schemes that promise abnormally high returns without regulatory oversight.
