Directorate of Enforcement News
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New Delhi, Dec 20 (IANS) During the last five years, the Directorate of Enforcement has taken up investigation in around 87 cases under the provisions of Prevention of Money Laundering Act, 2002 (PMLA) against MPs, MLAs and MLCs (both former and sitting).
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ED has conducted searches at more than 75 locations including the Mining Departments at DC Offices of Korba and Raigad and collected incriminating evidence. ED has recorded statements from around 100 individuals.
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ED on July 26 informed that it has attached assets worth over Rs 7 crore of a Delhi-based company.
The money-laundering investigation was done in connection with a case of alleged diversion of duty-free imported gold.
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In December 2018, a UK court has already ordered the extradition of Vijay Mallya, refusing his appeal
The Westminster Magistrates Court has ruled for Vijay Mallya's extradition on charges of Money Laundering on Dec 10, 2018
It observed clear evidence of dispersal and misapplication of the loan funds and also found that the accused was involved in a conspiracy to launder money
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Among these 7 locations, six are in Srinagar and one in Anantnag district.
ED initiated investigation under PMLA after CID, CIK Srinagar registered FIR against bank officials of J&K Bank, unidentified public servants and private persons and others for suspicious transactions in various bank accounts.
"Statement of persons covered in the searches are being recorded to unravel the source of huge credits and debits in their accounts," stated ED.
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Investigation conducted so far under PMLA has revealed that the accused hatched a criminal conspiracy to forge and fabricate documents in order to cause loss to the government exchequer.
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The ED initiated Investigation under the provision of PMLA against Naresh Jain and others under Section 419, 420, 467, 468, 471, 120 B of IPC
Jain is alleged to have facilitated parking of funds abroad by Indian nationals through his international Hawala transaction structure created in India and in various other jurisdictions
The probe has revealed that Jain has done Hawala operation of Rs 11,800 crore (approx.) in 114 foreign bank accounts.
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Further investigation, in this case, is under progress.
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