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Crime
Mumbai Flats Seized Over ₹10,000-Crore Uttarakhand Ponzi Scam
✍️ Hindustan Times
🗓 14 Nov 2026, 08:33 AM
👁 21
Nine residential units in the Mumbai Metropolitan Region have been attached by authorities following revelations that they were linked to a ₹10,000‑crore Ponzi scheme originating in Uttarakhand.
Nine flats located in the Mumbai Metropolitan Region were seized by law enforcement agencies on Thursday after investigations uncovered ties to a ₹10,000‑crore Ponzi scheme that operated out of Uttarakhand. The properties, which were part of a larger residential complex, were identified as potential assets used by the scheme’s promoters to launder proceeds.
The attachment follows a series of probes launched by the Enforcement Directorate and the Mumbai Police, which have been tracking the flow of money from the fraudulent investment scheme. Officials confirmed that the flats were purchased using funds that were later traced back to the Ponzi operation.
The seizure is part of a broader effort to recover assets linked to the scam, which has already seen several high‑profile arrests and the freezing of accounts across multiple states. Authorities are now working to determine the full extent of the property holdings and to facilitate the return of any recovered funds to the victims.
The move has raised concerns among local real‑estate investors, who warn that the case could signal a tightening of scrutiny over property transactions linked to financial fraud. Legal experts say the attached properties may be sold in a court‑ordered auction to maximize recovery for affected investors.
The Mumbai Metropolitan Region remains a focal point for the investigation, with officials urging anyone with information about the scheme’s assets to come forward. The Enforcement Directorate has set up a dedicated hotline for tips related to the case.
The attachment follows a series of probes launched by the Enforcement Directorate and the Mumbai Police, which have been tracking the flow of money from the fraudulent investment scheme. Officials confirmed that the flats were purchased using funds that were later traced back to the Ponzi operation.
The seizure is part of a broader effort to recover assets linked to the scam, which has already seen several high‑profile arrests and the freezing of accounts across multiple states. Authorities are now working to determine the full extent of the property holdings and to facilitate the return of any recovered funds to the victims.
The move has raised concerns among local real‑estate investors, who warn that the case could signal a tightening of scrutiny over property transactions linked to financial fraud. Legal experts say the attached properties may be sold in a court‑ordered auction to maximize recovery for affected investors.
The Mumbai Metropolitan Region remains a focal point for the investigation, with officials urging anyone with information about the scheme’s assets to come forward. The Enforcement Directorate has set up a dedicated hotline for tips related to the case.