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The Enforcement Directorate (ED) has attached assets worth ₹757.77 crore belonging to multi-level marketing (MLM) scheme promoting company, Amway India.
The probe agency has attached the assets under the anti-money laundering law, the ED said on Monday.
The provisionally attached properties of Amway India Enterprises Pvt. Ltd. include land and factory building at Dindigul district in Tamil Nadu, plant and machineries, vehicles, bank accounts and fixed deposits, it said in a statement.
Out of the total ₹757.77 crore of assets attached under the Prevention of Money Laundering Act (PMLA), immovable and movable properties are worth ₹411.83 crore while the rest are bank balances of ₹345.94 crore kept in 36 accounts belonging to Amway, it said.
The federal agency accused the company of running a multi-level marketing 'scam' where prices of most of the products offered by the company were "exorbitant as compared to the alternative popular products of reputed manufacturers available in the open market."