ED Attaches Assets in Parekh Aluminex and Vuenow Group Money Laundering Cases

The Enforcement Directorate (ED) has provisionally attached assets worth Rs 69.84 crore linked to the Parekh Aluminex Limited money laundering case involving an alleged Rs 2,296-crore bank fraud. Separately, the ED attached Rs 19.10 crore in assets related to the Vuenow Group's 'Cloud Particle Scam,' where investors' funds were reportedly diverted through a non-existent business model. Both cases involve investigations under the Prevention of Money Laundering Act, with accused individuals allegedly siphoning off large sums via shell companies and misappropriation.