The Enforcement Directorate (ED) has filed a supplementary prosecution complaint (SPC) against Manipur-based firm Birla Emporium, its director Yumnam Irabanta Singh, and others in connection with a massive investment fraud involving over 5,000 investors, officials said on Wednesday.

The ED’s action follows multiple cases registered by the Manipur CID (Crime Branch) against Singh, who also headed another company, Ira Finance.

According to the agency, Singh masterminded a fraudulent deposit scheme between 2019 and 2021, promising high returns to investors. However, the collected funds—amounting to over ₹250 crore—were allegedly misappropriated for personal enrichment.

Investigations further revealed that Birla Emporium and Ira Finance ran unauthorized investment operations and extended “Loan Against Property” deals. In many instances, properties pledged by borrowers were allegedly transferred and registered in the names of company employees and directors through sale deeds, thereby dispossessing the original owners.

The scheme collapsed in early 2020, leading to the company’s closure and failure to repay investors. The ED claimed that the proceeds of crime (PoC) were used to acquire numerous assets, including 85 immovable properties.

Assets worth ₹28.02 crore—both movable and immovable—have been provisionally attached. A prosecution complaint seeking confiscation of these properties was filed before a special PMLA court on June 6.