New Delhi:The Enforcement Directorate (ED) has filed a charge sheet against Amway India Pvt Ltd, a health and beauty company, in connection with a money laundering probe. ED has identified movable assets worth ₹757 crore linked to the company.
The charge sheet alleges that Amway India operated a multi-level marketing (MLM) and money circulation scheme, collecting substantial amounts from participants. The agency has identified proceeds of crime amounting to ₹4,050 crore in connection with the company.
Assets totaling ₹757 crore, including both movable and immovable properties, have been attached by the central agency. ED had previously attached hundreds of crores to 36 different accounts of Amway India in 2022, involving immovable and movable properties worth ₹411.83 crore and a bank balance of ₹345.96 crore.
Amway India defended its business, stating that the probe dates back to 2011, and their current operations comply with all regulatory requirements. In an official statement, the company expressed cooperation with relevant authorities for a fair and legal resolution.
