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Journalism of Courage
The ED is set to issue provisional attachment order of Rs 84 crore into the Stock Guru scam in which a couple were arrested last year by the Delhi Police for allegedly duping more than 2 lakh investors of nearly Rs 500 crore. The agency registered a case under the Prevention of Money Laundering Act (PMLA) early this year and has identified properties,cash,shares as proceeds of crime.
According to the ED,the couple,Ulhas Prabhakar and Raksha J Urs,and their associates owned eight flats in Dwarka in New Delhi and one each at Ratnagiri and Mumbai. Allegedly,they had floated a company,Stock Guru India,promising to double investors money in six months. They had launched a high-profile promotional campaign and even roped in celebrities.
A demand draft of Rs 50 crore lying with the accused at the time of their arrests will also be attached under sections of money laundering.
