ED attaches properties worth over Rs 8 cr in money laundering case
Patna (Bihar) [India], Feb 4 (ANI): Enforcement Directorate (ED) has provisionally attached movable as well as immovable properties totalling to Rs. 8.38 crores belonging to one Jai Prakash Mandal and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with a case of cheating.
ANI
Feb 04, 2020 13:25 IST
Patna (Bihar) [India], Feb 4 (ANI): Enforcement Directorate (ED) has provisionally attached movable as well as immovable properties totalling to Rs. 8.38 crores belonging to one Jai Prakash Mandal and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with a case of cheating.
According to an official press release, investigation in the case was initiated on the basis of FIRs/ charge-sheets received from Economic Offences Unit (EoU), Patna, wherein 12 FIRs and 7 charge-sheets have been filed for contravention of various sections of Indian Penal Code and Gambling Acts, according to an official press release.
The accused has acquired various movable and immovable properties to the tune of Rs 8.38 crores in his name and in the name of his wife and his son, mostly undertaking cash transactions.
All these transactions were for utilisation of unaccounted and illegal ways of earnings. The accused have also diverted the lands acquired out of proceeds of crime into various projects like marketing complexes in the name of Shoppe Mart, development of high rise building with a developer, Petrol Pump, Residential Buildings etc., the official statement said.
Further investigation is underway in the case (ANI).
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