Guwahati, July 10: The Directorate of Enforcement (ED) has attached assets worth ₹5.54 crore linked to the Jeevan Suraksha Group of Companies in connection with an alleged multi-crore Ponzi scam that duped nearly 6.88 lakh investors across the Northeast.

The Guwahati Zonal Office of the ED issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA), attaching 22 immovable properties and bank balances spread across Assam, Meghalaya and West Bengal.

According to the ED, the group allegedly operated a money circulation and Ponzi scheme through about 422 branches across the Northeastern states under the guise of recurring and fixed deposits, product and plot bookings, monthly income schemes and redeemable preference shares, promising unusually high returns without the required authorisation.

The agency alleged that the group collected around ₹403.63 crore from investors but repaid only about ₹132.72 crore, generating alleged proceeds of crime of approximately ₹270.91 crore.

The investigation was initiated on the basis of FIRs and charge sheets filed by the CBI’s Anti-Corruption Branch in Guwahati and was also probed by the Assam CID and the Serious Fraud Investigation Office (SFIO).

The ED said the investigation revealed that investors’ money was diverted to the personal accounts of the company’s directors and their family members through cash withdrawals, insurance policies, fixed deposits and inter-entity transfers before being invested in properties held in the names of the companies, directors, relatives and associates.

The agency said further investigation is underway.