ED auctions seized Hawker aircraft for Rs 3 crore in Rs 792 crore ponzi case

The Enforcement Directorate has auctioned a Hawker 800A aircraft for Rs 3 crore, an asset confiscated as part of a Rs 792 crore ponzi fraud investigation. The proceeds from the sale are intended to help compensate investors who were defrauded in the scheme. The scam was allegedly run by Amardeep Kumar through an entity called Capital Protection Force. Kumar is accused of luring victims with promises of high returns via a fraudulent invoice discounting scheme. The auction marks a notable step in the ED's efforts to recover and redistribute assets linked to the case.