ED attaches properties in MLM case

Admin   |   16 April, 2015   |   379   |   3980

The Enforcement Directorate officials of Hyderabad on Friday attached properties worth over Rs. 4.12 crore belonging to two companies in a multi-level marketing case.

The properties belonged to Moonlife Teamworks India Private Limited, its managing director P. Narayanachary and Sri Chandra Farms and Resorts India Limited in a multi-level-marketing case.

The ED officials, in a press release, stated that the properties were attached under the Prevention of Money Laundering Act.

Investigation revealed that Moonlife company, its managing director and others wrongfully gained Rs. 4.12 crore through multi-level-marketing, dealing in residential plots, they said.