ED attaches properties worth Rs 8 cr in cheating case
New Delhi: The Enforcement Directorate (ED) on Tuesday said that it has attached movable as well as immovable properties worth Rs 8.38 crore belonging to Jai Prakash Mandal and others as part of its probe in connection with a case of cheating.
The ED in a release said that the properties were attached under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED said that it took up the probe on the basis of the FIRs and charge-sheets received from Economic Offences Unit (EoU), Patna, wherein 12 FIRs and 7 charge-sheets have been filed for contravention of various sections of Indian Penal Code and Gambling Acts.
The attached properties included 45 per cent part of Sri Ram Valley (includes flats, commercial area, parking area) at Mauza Fatehpur, Bhagalpur worth Rs 4.07 crore, Shree Shopee Mart at in Bhagalpur worth Rs 2.25 crore, land and structural part of JP Ratna Filling Station (HP Petrol Pump) in Bhagalpur worth Rs 7 lakh, two residential House on the name of his wife Ratna Devi in Bhagalpur worth Rs 48 lakh, 37 landed properties pertaining to Mandal, his wife and son Pravin Mandal worth Rs 1.25 crore, 6 vehicles valued at Rs 20.56 lakh and bank balances worth Rs 1.96 crore.
The ED claimed that the accused acquired various movable and immovable properties to the tune of Rs 8.38 crore in his name and in the name of his wife and his son, mostly undertaking cash transactions.
"All these transactions were for utilisation of unaccounted and illegal ways of earnings. The accused have also diverted the lands acquired out of proceeds of crime into various projects like marketing complexes in the name of Shoppe Mart, development of high rise building with a developer, Petrol Pump, Residential Buildings etc.," the central financial probe agency said.