ED Cracks Down on PACL: Attaches 126 Assets Worth 5000+ Cr
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Breaking major ground in battling economic crime, ED has provisionally seized 126 properties valued at Rs 5,046.91 crore in the PACL money laundering saga. Situated chiefly in Punjab and Delhi, these were funded by billions illegally raised from trusting investors via Pearls Agrotech’s deceptive schemes.
CBI’s FIR, filed in 2014 on SC instructions, unraveled how PACL gathered Rs 48,000+ crore through unauthorized collective investments masked as land deals. Victims, often middle-class families, were sold dreams of farmland ownership with flexible payments, only to be left holding worthless papers—no land, no refunds.
Launderers deployed dummy companies for fund shuffling. Post-2016 SC order for SEBI-Lodha oversight on liquidations, illicit diversions continued, spawning new FIRs. ED’s proactive stance—from ECIR to successive complaints up to 2026—has the court fully engaged.
Total frozen assets hit Rs 22,656.91 crore, with further raids likely. This escalation highlights India’s evolving fight against white-collar fraud, prioritizing investor protection and systemic deterrence.
