The Enforcement Directorate (ED), Panaji Zonal Office, has provisionally attached movable and immovable properties worth approximately ₹61.53 lakh under the Prevention of Money Laundering Act (PMLA), 2002, in connection with the Ranggeeta Enterprises fraud case.
The attached assets include two residential flats, fixed deposits, and equity shares belonging to Gohil Jaykumar and his associates.
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The ED initiated its probe based on an FIR registered by the Economic Offences Cell of Goa Police against Jaykumar and others under various sections of the IPC. According to the FIR and chargesheet, the accused orchestrated fraudulent investment schemes, duping investors of over ₹9.33 crore.
Investigations revealed that Jaykumar, operating through the unregistered entity M/s Ranggeeta Enterprises with offices in Goa and Gujarat, lured the public by promising exorbitant returns of up to 20% per month. Investor funds were directly deposited into the personal accounts of Jaykumar and his agents.
The scheme functioned as a Ponzi model and collapsed in April–May 2022 when withdrawals outpaced fresh inflows. The ED confirmed that the proceeds of crime were not invested in any legitimate business but were diverted towards immovable property purchases, personal investments, an extravagant lifestyle, and other personal expenses.
Further investigation into the money trail and asset tracing is currently underway.
