New Delhi, March 9 The Enforcement Directorate (ED) on Wednesday said it has attached movable property worth Rs 46.85 lakh in the form of fixed deposit, belonging to Anil Kumar Singh, the managing director of Patliputra Builders Limited and its other group companies, in connection with a money laundering case.
The ED had earlier issued an order of attachment of assets worth Rs 2.62 crore.
The ED initiated money laundering investigation on the basis of the FIR and chargesheet filed by Patna Police Station.
The ED has learnt in the investigation that Singh being the Managing Director of the Patliputra Builder Limited and other companies, had played pivotal and key role in not fulfilling the promises made to various home buyers by being involved in the commission of offences like cheating, fraud, dishonesty and grabbing of public money.
"Singh was earlier charged for extortion, attempt to murder under IPC and contravention of Arms Act in various other FIRs. He was also chargesheeted by the police in all the cases. Singh embezzled the amount of Rs 9.47 crore payable to the employees of 'The Newspapers & Publications Ltd' and utilized the money for acquisition of properties in the name of his company Patliputra Builders Limited," said the ED official.
In September 2021, ED had arrested Singh and later, he was remanded to judicial custody.
"Huge cash deposits to the tune of Rs 9.99 crore were deposited by him in his bank accounts and in the bank accounts of his company and other group companies. Proceeds of Crime generated in cash has been layered through acquisition of properties in his name as well as in the name of his company and use of banking channels in order to conceal the actual origin of tainted money," said the ED official.
Further investigation into the matter is underway.
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