NEW DELHI, DEC 27
The Enforcement Directorate (ED) on Monday said it has attached assets worth Rs 5.74 crore in connection with a money laundering probe linked to an alleged fraud in the Chennai Port Trust.
The case pertains to some suspects submitting “fake” fixed deposit receipts with the port trust.
“By retaining the original fixed deposits receipts, they (accused) had fraudulently liquidated the fixed deposits within a couple of days after the opening of the FDs,” the ED said in a statement.
“It was found that an amount of Rs 45.40 crore was fraudulently transferred to a fake current account in the name of Chennai Port Trust. Around Rs 15.25 crore was withdrawn by cash from the said current account by impersonating as deputy director, finance of the Port Trust,” it said.
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The rest amount of Rs 31.65 crore was transferred to several bank accounts through more than 49 transactions and subsequently withdrawn as cash from those accounts by “luring the account holders in lieu of small commission,” it said.
The agency has attached 47 properties, including 230 acres of land, 20 plots, gold, vehicles and some bank deposits as part of an provisional order issued under the Prevention of Money Laundering Act (PMLA).
The total value of these assets is Rs 5.74 crore.
