The Enforcement Directorate has attached assets worth Rs 3.88 crores belonging to an officer of Indian Revenue Services (IRS) and his associates under Prevention of Money Laundering Act (PMLA), 2002 in connection with a corruption case.
"The Enforcement Directorate (ED) has issued provisional attachment order attaching movable and immovable properties totalling to Rs 3.88 crores belonging to Neeraj Singh, an officer of Indian Revenue Services and his associates under PMLA, 2002 in a corruption case," said the ED.
The directorate added that the attached assets include one residential property at Mumbai having a value of Rs 3.15 crores and bank balances amounting to Rs 73.16 lakhs.
The money-laundering investigation revealed Agarwal acted as the frontman of Singh and used to park the ill-gotten money of Singh into his compes. He also used to compensate for Singh personal expenses including flight tickets, travels and tours as well as hotel expenses, the directorate said.
The probe also revealed that Singh had acquired a residential property in Mumbai in the year 2014 in the name of one of his relative.
"For acquiring this property, Singh routed his ill-gotten money through a number of compes floated by Agarwal and finally placed them into the accounts of his relative in the guise of loans extended from a company. Singh was also found to possess and use bank accounts of his relatives, which were utilised for acquiring proceeds of crime. As such these identified assets consisting of residential properties and balances lying in the bank accounts have been attached under PMLA," the ED added.
Further investigation is under process.
( With inputs from ANI )