ED adds assets worth Rs 80 lakh for a Bengaluru tax official over money laundering

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The Enforcement Directorate (ED) has filed for assets estimated to be Rs 79.70 lakh worth for income tax official Abhishek Tripathi and his family over the charges of money laundering, an official revealed on Thursday.

The official said in a statement, “Order has been issued under the Prevention of Money Laundering Act (PMLA) to attach three properties valued at Rs 79.70 of Tripathi located at Lakhimpur-Kheri in Uttar Pradesh.”

The law enforcement agency has commenced the probe for the money laundering case filed against Tripathi over a chargesheet lodged by the Central Bureau of Investigation (CBI) along with Anti-Corruption Bureau (ACB) in Bengaluru in 2016 for procuring of assets which are disproportionate to his income.

The statement said, “Investigation revealed that Tripathi misused his official position to make suspicious transactions and acquired assets in his name from December 29, 2008 to April 4, 2016.”

The recent attachment order issued comes a week post the ED on February 27 added the assets estimated to be Rs 84.80 crore of Bengaluru based Kanva group director N Najundaiah along with his family in another money laundering case for taking away the wealth of 13,000 depositors.

The official further added, “Investigation was initiated on a complaint from the Registrar Cooperative Societies that the Kanva group collected Rs 650 crore deposits from citizens, assuring high interest rate without maintaining required liquidity.”

The assets of S. Harish, Sree Kanva Souhardha Cooperative Credit Ltd founder-director, have also been lodged. The assets comprises of agriculture lands, flats, buildings, factories of Harish, Najundaiah which are based in Nelamangala, Koratagere, Chikkabalapura, Srirangapatna and Bengaluru in Karnataka and at Madakasira in Andhra Pradesh.

“Nanjundaiah is in jail since his arrest on August 25, 2020,” added the official.

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