ED attaches properties worth Rs 2.18 crore in drugs case, freezes Rs 4.07 crore in Ponzi scheme case

The ED alleged that manufacturer Soul Healthcare (I) Pvt Ltd and its distributor Aster Pharma were involved in the illegal trade and received proceeds of crime in cash.

According to the ED, the case pertains to the illegal supply of psychotropic substances such as tramadol and alprazolam. The probe was initiated based on FIRs registered by the Punjab Police under the NDPS Act after the recovery of tramadol-based tablets and drug money from peddlers.

According to the investigation, “Middlemen procured large quantities of psychotropic tablets from pharmaceutical manufacturers and diverted them for illegal cash sales without proper bills or prescriptions.”

Earlier, the ED conducted searches on June 17, 2025, and arrested Abhishek Kumar of Shri Shyam Medical Agency on December 9, 2025. He is currently in judicial custody. Further investigation is underway.

In the Ponzi scheme case, the ED spokesperson said, Jagjeet Singh, president-cum-managing director of the society, along with his associates, allegedly induced members of the public across Punjab to deposit money by making false assurances of high returns, thereby cheating investors and causing wrongful losses.

The money laundering probe was initiated based on multiple FIRs registered by the Punjab Police against the society and others.

According to ED investigations, “The society, its president Jagjeet Singh, vice-president Gurmeet Kaur and agents collected deposits from the public with promises of quick and high returns, including doubling of money.”

The agency alleged, “The collected funds were diverted for personal use and for paying earlier investors. The deposits were consolidated in four bank accounts of the society, which have now been provisionally attached. Further investigation is underway.”