ED Freezes Rs 60 Crore Shares and 70 Bank Accounts in Major Money Laundering Case | Patna News – Times of India
Patna: The Enforcement Directorate (ED), Patna zonal office, conducted a search operation at 13 locations in Delhi, Gurgaon, Kolkata, Jaipur and Nagpur in connection with the money laundering case against senior Bihar cadre IAS officer Sanjeev Hans, former MLA Gulab Yadav and others on Tuesday, the investigating agency said.
Shares worth Rs 60 crore were found in the newly opened Demat accounts of the family members of one of the close associates (currently under judicial custody in this case) of Hans. The shares of Rs 60 crore (approx) in the Demat accounts and money balances in the 70 bank accounts have now been frozen, the ED said in a statement.
The searches were carried out on the premises of close associates of Sanjeev Hans and other parties engaged in the real estate and service sectors for their involvement in money laundering processes connected with the instant case, the ED said.
“Investigations revealed that Hans generated proceeds of crime by indulging in corrupt practices while holding various prime postings in the Bihar govt and also during his central deputations. Former MLA Gulab Yadav and other associates assisted Hans in the laundering of the ill-gotten money generated from corrupt practices,” the ED said.
“Investigation in this case also revealed the involvement of a few private people who used to assist Hans in the generation and laundering of ill-gotten money from corrupt practices. Therefore, search operations were conducted at 13 locations on Tuesday. During the course of the search, shares worth Rs 60 crore were found in the newly opened Demat accounts of the family members of one of the close associates (currently under judicial custody in this case) of Hans,” the investigating agency said.
“Further from his premises, details of 70 bank accounts were found which appear to have been used for layering and laundering of proceeds of crime and concealment of unexplained cash. He invested funds of Rs 18 crore in real estate and evidence regarding the concealment of huge cash in such deals has also been gathered. During the search operation, shares of Rs 60 crore (approx.) in the Demat accounts and balances in the 70 bank accounts have been frozen by ED. Further unexplained forex of Rs 16 lakh (approx.) and cash of Rs 23 lakh (approx.) have been recovered and seized from others’ premises. In addition, various evidence (physical/digital) incriminating from a corruption angle were also recovered and seized,” the investigating agency said.
“Earlier too, searches were conducted under section 17 of PMLA, 2002 at various locations in Patna, Delhi, Kolkata, Pune, Mumbai, Haryana and Punjab wherein from the premises of Hans gold jewellery and luxury watches amounting to Rs 80 lakh and Rs 70 lakh, respectively, were found and seized and from the premises of his associates unexplained cash of Rs 87 lakh, 13kg silver bullion (worth Rs 11 lakh approx.) and 1.5kg gold bullion and jewellery (worth Rs 1.25 crore approx.) were recovered and seized,” an ED official said, adding, “Further investigation in this case is in progress.”
Shares worth Rs 60 crore were found in the newly opened Demat accounts of the family members of one of the close associates (currently under judicial custody in this case) of Hans. The shares of Rs 60 crore (approx) in the Demat accounts and money balances in the 70 bank accounts have now been frozen, the ED said in a statement.
The searches were carried out on the premises of close associates of Sanjeev Hans and other parties engaged in the real estate and service sectors for their involvement in money laundering processes connected with the instant case, the ED said.
“Investigations revealed that Hans generated proceeds of crime by indulging in corrupt practices while holding various prime postings in the Bihar govt and also during his central deputations. Former MLA Gulab Yadav and other associates assisted Hans in the laundering of the ill-gotten money generated from corrupt practices,” the ED said.
“Investigation in this case also revealed the involvement of a few private people who used to assist Hans in the generation and laundering of ill-gotten money from corrupt practices. Therefore, search operations were conducted at 13 locations on Tuesday. During the course of the search, shares worth Rs 60 crore were found in the newly opened Demat accounts of the family members of one of the close associates (currently under judicial custody in this case) of Hans,” the investigating agency said.
“Further from his premises, details of 70 bank accounts were found which appear to have been used for layering and laundering of proceeds of crime and concealment of unexplained cash. He invested funds of Rs 18 crore in real estate and evidence regarding the concealment of huge cash in such deals has also been gathered. During the search operation, shares of Rs 60 crore (approx.) in the Demat accounts and balances in the 70 bank accounts have been frozen by ED. Further unexplained forex of Rs 16 lakh (approx.) and cash of Rs 23 lakh (approx.) have been recovered and seized from others’ premises. In addition, various evidence (physical/digital) incriminating from a corruption angle were also recovered and seized,” the investigating agency said.
“Earlier too, searches were conducted under section 17 of PMLA, 2002 at various locations in Patna, Delhi, Kolkata, Pune, Mumbai, Haryana and Punjab wherein from the premises of Hans gold jewellery and luxury watches amounting to Rs 80 lakh and Rs 70 lakh, respectively, were found and seized and from the premises of his associates unexplained cash of Rs 87 lakh, 13kg silver bullion (worth Rs 11 lakh approx.) and 1.5kg gold bullion and jewellery (worth Rs 1.25 crore approx.) were recovered and seized,” an ED official said, adding, “Further investigation in this case is in progress.”
