Bengaluru: The Enforcement Directorate (ED) has taken strong exception to its name being dragged by the City police in an alleged corruption case related to Ambidant Marketing Pvt Ltd - a Ponzi scheme company that has reportedly fleeced over 15,000 investors of over Rs 600 crore.
On November 9, Joint Director, ED, Bengaluru Raman Gupta wrote a letter to the city Police Commissioner stating that the name of ED has been maligned without any verification of facts.
“With respect to the Investigation into Ambidant Marketing Pvt. Ltd. scam the police have mentioned the name of the Directorate and that the accused had sought support regarding ED cases. This has not only maligned the image of the ED, it has also led to avoidable media speculation In the case. Surprisingly, before putting out the uncorroborated information in the public domain, no effort was made by the State police to verify the facts with the Directorate,” wrote the JD.
The ED has requested the police to expeditiously share information with the Directorate regarding Ambidant and the accused for the ED to examine the matter under Prevention of Money Laundering Act (PMLA).
Gupta has also requested the police to furnish the ED with action taken against the company under the KPID Act. The Directorate had raided Ambidant in January and seized Ra 1.97 crore cash under the Foreign Exchange Management Act. The money was being allegedly used for forex dealing. The ED had levied a penalty of Rs 2 crore on Ambidant owner Fareed, which he had paid.
The ED had asked SEBI, RBI and the state government to take action against Ambidant under the KPID Act, but no action was taken.
