pune the enforcement directorate ed on thursday attached immovable properties worth rs 904 crore of citybased developer d s kulkarni popularly known as dsk in the money laundering case filed against himthe action was initiated under the provisions of the prevention of money laundering act 2002 the ed seized land buildings flats bank deposits policies and other properties of dskmore than 35000 investorsdepositors have allegedly been cheated by the arrested builder according to the ed the dsk group cheated people of rs 1129 crore in the deposit schemes started by kulkarni his wife hemanti and son shirish they were acting on various positions in the companies under the dsk group of companies which was involved in the real estate automobile sports information technology and education sectors the flagship company was d s kulkarni developers limited dskdlthe ed stated investigations disclosed that the trio and others conspired among themselves and formed eight partnership firms including d s kulkarni and company d s kulkarni and associates d s kulkarni and brothers d s kulkarni and sons dsk and sons dsk constructions and dsk enterprises under the dskdl with the sole motive of collecting funds from the gullible people based in mumbai pune kolhapur and other cities of maharashtrathe ed said all partnership firms were projected as part and parcel of dskdl these eight partnership firms did not have any profit generating business nevertheless the trio in connivance with others dishonestly induced gullible people and collected funds between 2006 and 2017 in different deposit schemes through these eight firmsthe money trail established that the trio with others systematically layered and integrated the funds collected by these eight partnership firms through various high value sham transactions under the cover of capital borrowing advances against property and directors loan between more than 40 companiesentities of the dsk group to project it as untainted money and finally laundered the money to dskdl the ed statedthe ed said the money was utilized to purchase land in india and in the uskulkarni and hemanti were arrested in the cheating case registered with the shivajinagar police in february 2018 the case was registered against the builder in october 2017 for not returning the fixed deposit of an elderly man