Enforcement Directorate lodges lawsuit against Unickon Group and its promoters . Money laundering lawsuit filed in connection with a SEBI-related cheating and fraud investigation .
New Delhi (India), November 24: In a suspected money laundering case, the Enforcement Directorate (ED) lodged a lawsuit against Unickon Group and its promoters on Thursday.The money laundering lawsuit was filed in connection with a SEBI-related cheating and fraud investigation.Unickon Financial Intermediaries Pvt.Ltd, Unickon Financial Intermediaries Pvt.Ltd, Unickon Real Estate Pvt.Ltd, and i360 Staffing and Training Unickon Securities Pvt.(USPL) was also registered with the Securities & Exchange Board of India (SEBI) as a Stock Broker and Depository Participant of Central Depository Services Limited (CDSL).An estimated 4,156 investors called SEBI and lodged charges for non-receiving of their funds and securities on January 2014.The ED conducted an investigation into this dubious activity involving the investors' money and securities under the Prevention of Money Laundering Act, 2002, which culminated in a SEBI investigation.Unickon Securities Pvt. Ltd., his wife Sonia Nagpal, Ram Mohan Gupta, Vikas Mallan, Sandeep Arora, 30,14,77,028-identified in the form of scrips, balance, cash, etc.The complaint was later accepted by the adjudicating body.The Special Judge, Patiala Court, New Delhi, took cognition of the matter, according to an order dated November 18.