ED attaches properties worth Rs 5.7 crore of Tamil Nadu smuggler Villayutham
The investigation was initiated under the Prevention of Money Laundering Act, 2002, against Villayutham and others on the basis of multiple FIRs registered by the Tamil Nadu Police and Wildlife Authorities from 2008 till 2022, according to a statement from the agency.
ANI
Apr 19, 2023 19:23 IST
New Delhi [India], April 19 (ANI): The Enforcement Directorate (ED) attached immovable properties worth Rs 5.7 crore belonging to Villayutham and his family members. The attached properties included vacant plots, agricultural lands, buildings and a hotel run in the name of Hotel Ramajayam in Rameswaram.
The investigation was initiated under the Prevention of Money Laundering Act, 2002, against Villayutham and others on the basis of multiple FIRs registered by the Tamil Nadu Police and Wildlife Authorities from 2008 till 2022, according to a statement from the agency.
The probe revealed that Villayutham, a smuggler and a habitual offender, had generated proceeds of crime by indulging in smuggling and trading of sea cucumbers. The collection and trade of sea cucumbers are strictly banned in India since the year 2001 and these are a marine species protected under Schedule I of Wildlife Protection Act, 1972. There is a high demand for the sea cucumbers in Singapore, China and other far eastern countries.
The said proceeds generated in cash was later layered and channelled into the banking system and was used to repay loans in cash, and to acquire properties including a hotel, it added.
Subsequently, Villyutham was arrested on March 13, 2023, after being found guilty of offence of money laundering and is currently in judicial custody. (ANI)
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