Adarsh Credit: ED files Prosecution Complaint; Investors remain clueless

Adarsh Credit: ED files Prosecution Complaint; Investors remain clueless
ED report accuses 124 individuals including companies of siphoning off funds
Investigating for more than a couple of years, the Enforcement Directorate has finally filed a Prosecution Complaint against 124 persons which includes companies as well in the case of Adarsh Credit Cooperative Society case.
The matter relates to Adarsh Credit siphoning off a huge fund of gullible investors on the false promise of doubling their income. Twenty lakh people invested Rs 14,682 crore over 8 years in Adarsh credit society.
The founder chairman of Adarsh Credit Co-op Mukesh and his family members are alleged to have run Ponzi schemes and floated several fake companies to which they diverted Rs 8400 crore.

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