The Imphal Sub-Zonal Office of the Enforcement Directorate (ED) has initiated the restitution process for assets valued at Rs 63.52 crore in the high-profile Lamjingba Finance scam, following a directive from a special court in Imphal East recently.
The ED’s action comes in response to the court’s restoration order, which validates claims from around 5000 victims who were defrauded in the scam.
These investors are set to receive compensation through the auctioning of properties that were seized by the ED during its investigation.
The Lamjingba Finance scam, which surfaced several years ago, involved fraudulent schemes that lured investors with promises of high returns.
The subsequent investigation by the ED uncovered extensive financial irregularities, leading to the attachment of various assets belonging to the accused.
