Must Read

ED attaches assets of an IRS officer worth Rs 3.88 crore

By IndianMandarins- 25 Jul 2020
2111

ed-attaches-assets-of-an-irs-officer-worth-rs-3-88-crore

The ED has attached assets worth Rs 3.88 crore belonging to an IRS officer and his associates under Prevention of Money Laundering Act, 2002 in connection with a corruption case.

“The ED has issued provisional attachment order attaching movable and immovable properties totalling to Rs 3.88 crores belonging to Neeraj Singh, an officer of Indian Revenue Services and his associates under PMLA, 2002 in a corruption case," said the ED.

The directorate added that the attached assets include one residential property at Mumbai having a value of Rs 3.15 crore and bank balances amounting to Rs 73.16 lakh. The money-laundering investigation revealed Agarwal acted as the frontman of Singh and used to park the ill-gotten money of Singh into his companies.

He also used to compensate for Singh personal expenses including flight tickets, travels and tours as well as hotel expenses, the directorate said.

The probe also revealed that Singh had acquired a residential property in Mumbai in the year 2014 in the name of one of his relatives. Further investigation is under process.

ALSO READ:

ED probe reveals money laundering racket involving 10 senior IRS officials

free stat counter