New Delhi, Sep 17 (TIWN) The Enforcement Directorate on Tuesday attached Rs 277.97 crore assets of Noida-based eBIZ.COM Pvt Ltd and others in a "pyramid style" multi-level marketing fraud, the ED said.

The agency also attached bank accounts of Pawan Malhan and Anita Malhan, directors of eBIZ.Com, their family members and other associates. Of the assets attached are 29 immovable properties purchased at a cost of Rs 34.60 crore and also Rs 242.25 crore in 124 bank accounts, maintained in the name of the company, its directors and their family members as well as associates. The main accused, Pawan and his son Hitik Malhan, were presently in the Telangana Police custody, said the statement. The ED initiated investigation under the PMLA on the basis of FIRs registered by the Telangana Police against eBIZ.Com and its directors and associates for cheating people by propagating false promises of earning quick and easy money and inviting them to become members of their pyramid scheme in the guise of direct selling multi-level marketing network by introducing worthless products, like free computer education packages and suit lengths.