ED widens probe into 50+ entities over penny stock laundering
The Enforcement Directorate is investigating over 50 individuals and firms for alleged money laundering through penny stock price rigging. Notices have been issued under the PMLA, requiring disclosure of financial information and associations with manipulated companies. This probe follows a raid on a tech firm, uncovering a syndicate involved in elaborate stock manipulation schemes.
The Enforcement Directorate is investigating over 50 individuals and firms for alleged money laundering through penny stock price rigging. Notices have been issued under the PMLA, requiring disclosure of financial information and associations with manipulated companies. This probe follows a raid on a tech firm, uncovering a syndicate involved in elaborate stock manipulation schemes.
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