Indian Directorate for enforcement (ED) attached 68 high -value characteristics in value £762 Crore in Pandjab, Haryana, Delhi, Maharashtra and Australia. These assets were purchased with stolen money from 5.8 Crore investors in one of the largest Indian fraud: fraud PACL.
Pearl Agro Corporation Limited (PACL) directors have mixed people for 18 years by promising land or high revenues. They gathered instead £48,000 crore through illegal investment schemes forbidden sebi. The ED event is governed by the CBI against PACL, its sister company PGF Limited and late founder Nirmal Singh Bhangoo for cheating investors at a national level.
The Latest Press Release by the Ed on the Investigation Reads, “Directorate of Enforcement (ED), Delhi Zonal Office Has provisionally Attachhed Immovable Properties Valued at Rs. 762.47 Crore (Approx) An ongoing Investigation Involving M/S PACL Ltd., ITS Directors, Promoters, and Associated Entities, performed under the provisions of the Money Painting Act (PMLA), 2002.
How stolen cash has become luxury assets
PACL directors secretly moved investors’ money through Shell in Calcutta and pretended to be for “soil development”. Cash was then handed over to Bhangoo collaborators in Delhi, sent via Hawal (illegal channels) to Dubai and finally used to buy foreign properties.
Recent raids across 9 countries have revealed documents that showed this washing chain. The key accused as a brother -in -law Harsatinder Pal Hayer Bhangoo bought luxury real estate in Mumbai, Pandjab and Australia with stolen means. Hayer, arrested in March 2025, is facing new fees for hiding these assets as “clean”, although he knew they were purchased with money.
Justice for investors? Long way forward
While the main promoter Pacl Bhangoo died in 2024, ED continues to hunt stolen money around the world. Attached features such as two Australian assets £462 Crore seized earlier, now they are with the Supreme Court judge.
This team sells them for returned investors. More than 11 pages of crore are verified, but the installments are slow.
ED has so far filed three legal complaints and promises more steps against 11 entities involved. As investigators follow deeper references to Dubai and Australia, lakhs of poor investors hope to gain their life savings.
(Tagstotranslate) PACL fraud
