Ahmedabad, Nov 3 The ED has attached Rs 35.80 crore deposited in 300 bank accounts fraudulently opened by a gang involved in betting, gambling and other illegal activities, an official said on Monday.
The Enforcement Directorate (ED), Ahmedabad Zonal Office, provisionally attached the money in a case related to Jitender Tejabhai Hiragar and others on the basis of a Provisional Attachment order (PAO) of October 29, said the official in a statement.
The investigations originated from 448 bank accounts (Primary accounts), which were opened using forged documents of gullible individuals. Subsequently, money trail followed and more than 995 bank accounts in the first layer having transactions of more than Rs 1,000 crore have been scrutinised, said the ED.
The federal agency has traced and attached the balance available in the bank accounts, which were used for illegal gambling, betting and other illegal activities held in more than 300 bank accounts in different banks to the tune of Rs 35.80 crore, said the statement.
According to investigators, the 448 bank accounts opened with fraudulent documents were used to receive funds from betting and other illegal activities. The money was shifted to first-layer accounts, it said.
In another case, the ED conducted multi-state searches across Odisha, Delhi, Uttarakhand, and Punjab and seized incriminating documents in connection with a Rs 73 crore bank loan fraud involving a private company, an official said on Monday.
During the search operations by ED’s Bhubaneswar zonal unit, various incriminating documents and documents related to property worth several crores of rupees were recovered and seized in the case against S R Alcobev Pvt Ltd and others, the official said in a statement.
The search operations on October 29 were conducted under the provisions of the Prevention of Money Laundering Act, 2002.
S R Alcobev Pvt Ltd and others allegedly duped Punjab National Bank and Indian Bank (erstwhile Allahabad Bank) of Rs 73 crore after seeking a bank loan by diverting the money for unauthorised use in other companies.
The ED initiated an investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI) invoking scheduled offences under PMLA, 2002.
During the searches, the ED recovered and seized incriminating documents which showed systematic diversion of loan funds from S R Alcobev Pvt Ltd to Brewforce Technologies and other associated companies, entities, and business associates.
Additionally, multiple documents related to property worth several crores of rupees were recovered and seized, indicating the acquisition of assets using diverted funds, said the statement.
The ED investigation revealed that S R Alcobev Pvt Ltd had availed credit facilities aggregating Rs 73 crore from the banks, but its officials misused the facility to acquire illegal assets and fund business activities of other associates
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