Kochi, Jan 22 In fresh action in misappropriation of Rs 6 crore from the Kerala Advocates Welfare Fund Trustee Committee, the Directorate of Enforcement (ED), Kochi Zonal Office, attached five properties worth Rs 1.78 crore, an official said on Thursday.
The ED has attached three immovable properties and two movable properties worth Rs 1.78 crore (approx.) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, acquired by M.K. Chandran and his family members in Kerala, said a statement.
The ED initiated an investigation on the basis of an FIR registered by the Vigilance and Anti-Corruption Bureau (VACB), Kerala, on May 11, 2018, against M. K. Chandran and others under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860.
The said FIR pertains to the alleged misappropriation of funds of the Kerala Advocates Welfare Fund Trustee Committee during the period 2007 to 2017.
Pursuant to the directions of the High Court of Kerala, the investigation was later transferred to the Central Bureau of Investigation (CBI), which filed a final report on December 14, 2023.
During investigation under PMLA, 2002, the ED found that Chandran, while working as Accountant of the Kerala Advocates Welfare Fund Trustee Committee during 2007-2017, had misappropriated KAWFTC funds by abusing his official position, the statement said.
Investigation revealed that Proceeds of Crime, amounting to approximately Rs 6.07 crore, were generated in the form of cash and were diverted and layered through transfers to his personal bank accounts, accounts of his wife and other related persons.
Earlier in another case related to Karnataka, the ED, Bengaluru Zonal Office, on Wednesday provisionally attached 10 immovable properties - 6 illegally allotted MUDA sites, 3 immovable properties and one commercial building having a market value of Rs 20.85 crore under PMLA, 2002, in the case of Siddaramaiah and others (MUDA Scam).
The Proceeds of Crime having a market value of Rs 460 crore, have been attached so far, in the case, said a statement.
--IANS
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