Jalandhar, March 21 The Directorate of Enforcement (ED) Jalandhar Zonal Office has provisionally attached movable and immovable properties worth Rs 42 lakh on Friday in connection with a financial fraud investigation involving Sanjeev Kumar, a former Sub-Postmaster at Dakhni Gate Nakodar Sub-Office in Jalandhar, Punjab, and several other accused individuals, an official said.
The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, a statement read.
The investigation by the ED was initiated following a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) against Sanjeev Kumar and others. The accused are alleged to have defrauded the government by misappropriating public funds through fraudulent transactions in post office savings schemes.
Sanjeev Kumar, during his tenure, is accused of opening fake savings accounts and manipulating legitimate accounts, allowing him to fraudulently withdraw government funds amounting to Rs 8.48 crore, the statement mentioned.
ED's investigation revealed that the fraudulently acquired funds were laundered through a complex web of multiple bank accounts maintained by Kumar and his associates.
Further details from the ED investigation indicate that the proceeds of crime (POC) were moved through a series of layered transactions, designed to integrate the illicit funds into the financial system. A significant portion of the POC was allegedly withdrawn in cash and laundered through various methods by Kumar and his associates for personal gain.
The investigation is ongoing, with authorities continuing to probe the full extent of the financial fraud and its network. The attachment of Rs 42 lakh worth of assets is part of the effort to recover the misappropriated funds and dismantle the fraud network.
ED officials have stated that they are closely following the developments and will continue their work in collaboration with other law enforcement agencies. Further updates are expected as the investigation progresses.
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