ED seizes properties of Sena leader Pratap Sarnaik under PMLA in NSEL fraud-related case
On Friday the Enforcement Directorate (ED) attached properties belonging to Shiv Sena MLA Pratap Sarnaik worth Rs.11.35 crore in an alleged money-laundering case related to the National Spot Exchange Limited (NSEL) frauds. Two flats in Hiranandani Complex and a plot of land in Thane, totally valued at Rs.11.35 crore have been attached by the ED.
The ED has seized the properties under the Prevention of Money Laundering Act in the National Spot Exchange Ltd. fraud-related case.
After ED came into action, Sarnaik said he would soon move the court to clarify his position in the matter and would fully cooperate with the ED as he had done in the past.
The NSEL has been under the scanner of the NSEL after the Mumbai Police Economic Offences Wing registered a complaint in September 2013, on the basis of which the ED launched its probe.
The investigation further revealed that Aastha Group comprising one of the defaulting members of NSEL had a liability of Rs.242.66 crore towards NSEL. Aastha Group had diverted Rs.21.74 crore of Vihang Aastha Housing Projects LLP in the period 2012-13. Out of the total amount of Rs.21.74 crore received by Vihang Aastha Housing Projects LLP, Rs.11.35 crore was transferred to Vihang Enterprises & Vihang Infrastructure Pvt. Limited, both firms are controlled by Mr. Sarnaik and his family members.
The case involves NSEL, its directors and top officials, 25 defaulters, and others who are accused of hatching a criminal conspiracy to defraud some 15,000 investors.
They are charged with luring them to trade on the NSEL platform, creating forged documents, bogus warehouse receipts, fake accounts, and thereby committing a criminal breach of trust cheating the investors of Rs.5,600
Earlier, in this case, assets amounting to Rs.3,242.67 crore had been attached. The total value of attached assets in this case now stands at Rs.3,254.02 crore.
[With Inputs from IANS]
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