JP Morgan Assets Attached

The Enforcement Directorate has attached the assets worth Rs 187 crore of multi-national firm JP Morgan alleged to have been involved in syphoning of Amrapali Group home buyers money. JP Morgan India on other hand denied any wrong doing and said that attachment of properties by the Enforcement Directorate is blatantly illegal as it was not part of any kind of financial dealing with Amrapali Group and it was JP Morgan Singapore and Mauritius which had allegedly invested in the real estate group. The Court has ordered a probe by the ED into allegations of money laundering and to look into the charge of FEMA violation by JP Morgan.