New Delhi, Oct 3 (UNI) The Enforcement Directorate (ED), Panaji Zonal Office, recently attached movable and immovable properties in the form of two residential flats, a fixed deposit, and equity shares worth Rs 61.53 lakh belonging to Gohil Jaykumar and other associated persons in the case involving Ranggeeta Enterprises.
The ED initiated a PMLA investigation on the basis of an FIR registered by the Economic Offences Cell, Goa Police, against Gohil Jaykumar and others under various sections of the IPC.
As per the FIR and the charge sheet, Gohil Jaykumar and his associates orchestrated fraudulent investment schemes through which the public was defrauded of over Rs 9.33 crore.
The ED investigation revealed that Gohil Jaykumar, operating through the unregistered entity Ranggeeta Enterprises, with various offices in Goa and Gujarat, solicited public investments by promising exorbitant and unrealistic returns of up to 20 percent per month.
Investor funds were collected directly into the personal bank accounts of Gohil Jaykumar and his agents. The scheme functioned as a Ponzi structure and collapsed in April–May 2022 when withdrawals exceeded fresh inflows.
It has been established that the proceeds of crime (POC) were not deployed into any legitimate business but were misappropriated for personal enrichment, including the purchase of immovable properties, personal investments, financing an extravagant lifestyle, and meeting other personal expenses.
Further investigation into the matter is ongoing.
