HYDERABAD: The Directorate of Enforcement (ED), Hyderabad unit, provisionally attached 22 immovable and 8 movable properties worth Rs 8 Crore under the provisions of the Prevention of Money Laundering Act in a case related to the illegal export of psychotropic substances.
The ED initiated an investigation against JR Infinity Private Limited, Aashish Jain, and his family members based on an Information Report from May 2022 recorded by NCB, Hyderabad Sub Zonal Unit.
The NCB alleged that Aashish Jain was running an illegal internet pharmacy business from the premises of JR Infinity Private Limited and was illegally exporting psychotropic substances in tablet form like Alprazolam, Zolpidem, Lorazepam, Clonazepam, Hydrocodone, and Oxycodone under the guise of providing telemarketing call centre services and search engine optimisation services.
Search operations conducted by the NCB at the premises of the accused led to the seizure of Indian and foreign currency amounting to Rs 3.7 Crore, as well as incriminating evidence regarding the illegal export of psychotropic substances.
The ED investigation revealed that Aashish Jain incorporated JR Infinity Pvt. Ltd. for illegally exporting psychotropic substances such as Alprazolam, Tramadol, and Diazepam to overseas customers in violation of the provisions of the NDPS Act, thereby acquiring proceeds of crime.
The investigation also revealed that even before the incorporation of JR Infinity Private Ltd., Aashish Jain and his family members received foreign inward remittances of more than Rs 4.5 Crore in their personal bank accounts, without any genuine business and against the illegal sale of drugs abroad.
The total Proceeds of Crime (POC) identified in the case during the PMLA investigation is Rs 12.7 Crore.
The ED investigation revealed that the POC were utilised for the creation of Fixed Deposits and the purchase of several immovable properties in the name of Aashish Jain and his family members.
The attached immovable properties are in the form of land parcels in the name of Aashish Jain and his family members, located in Indore, Madhya Pradesh, and valued at Rs 6.5 Crore.
The movable properties are in the form of bank balances and fixed deposits valued at Rs 1.46 Crore in the name of Aashish Jain and his family members.