KOCHI: The Enforcement Directorate (ED) has provisionally attached properties worth Rs 173.48 crore under provisions of Prevention of Money Laundering Act (PMLA) in the case against Santiago Martin and others.
ED said in a statement that the attached properties consist of various movable and immovable properties in the form of bank accounts and lands situated in Tamil Nadu under his name as well as in the name of his various companies.
ED has initiated investigation under the provisions of PMLA against Martin and others based on the charge filed by Central Bureau of Investigation, Cochin.
As per the ED statement, investigation under PMLA revealed that the partners of MJ Associates, Martin and N Jayamurugan made unlawful gain with a corresponding loss to the Government of Sikkim to extent of Rs 9,10,29,87,566 on account of inflating the prize-winning tickets claim for the period from April 1, 2009 to August 31, 2010. This is nothing but proceeds of crime as defined under PMLA, the statement said.
ED stated that Martin and others have invested the said parts of the proceeds of crime that they had earned from their lottery business in immovable properties. This was done by floating various companies by joining with his family members or through his family members to project the same as untainted properties.
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