Enforcement Directorate attaches Rs 757-crore assets of Amway India under PMLA

Tribune News Service

New Delhi, April 18

The Enforcement Directorate (ED) today said it had issued a provisional attachment order under provisions of the Prevention of Money Laundering Act (PMLA) to seize assets worth Rs 757 crore belonging to Amway India, a multi-level marketing scheme promoting company.

The ED has 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”.

The provisionally attached properties of Amway India Enterprises Private Limited include land and factory building at Dindigul district in Tamil Nadu, plant and machineries, vehicles, bank accounts and fixed deposits, it added. —

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