New Delhi, July 4 The Enforcement Directorate (ED) has provisionally attached assets worth Rs 1.05 crore in a major money laundering case involving the Sada Urban Co-operative Credit Society Ltd (SUCCSL) in Goa.
The immovable properties attached under the Prevention of Money Laundering Act (PMLA), 2002, include a commercial shop named ‘Vasco Times’ and a residential house, both located in Vasco-da-Gama, Goa.
The attachments were made by the Panaji Zonal Office on Thursday. The action stems from an FIR and a charge sheet filed by the Goa Police against Uma Nilesh Hondad alias Uma Raju Helawar, the former Branch Manager of SUCCSL’s Zuarinagar branch, and others.
They have been accused of cheating, forgery, and misappropriation of funds to the tune of Rs 1.28 crore. According to the ED, Hondad, in criminal conspiracy with her associates, exploited her official position to siphon off public funds. The investigation revealed that she opened fake loan accounts in the names of unsuspecting members, fabricated gold loan records without any pledged gold, misappropriated fixed deposits, and forged signatures of senior officials to illegally withdraw funds from the society’s account.
The laundered funds, classified as Proceeds of Crime (POC), were diverted to her personal bank accounts and those of her family members and associates.
These funds were subsequently used to cover personal expenses and acquire assets, including the now-attached properties.
"These funds were used for personal expenses and to acquire/release assets," the ED said in its statement.
“The attached properties, valued at Rs 1.05 crore, include a commercial shop named ‘Vasco Times’ and a residential house in Vasco-da-Gama. These properties have been attached as they represent the value of the POC used for the benefit of the accused and their family members. The total POC quantified in the PMLA investigation so far is Rs. 1.11 crore," it added
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