New Delhi: The Enforcement Directorate (ED) on Sunday July 3 said it has attached assets worth Rs. 400 Crore in connection with two separate money laundering cases pertaining to bank and lottery frauds in Tamil Nadu.
In the first case, the ED attached property worth Rs. 234.75 Crore belonging to Saravana Stores (Gold Palace), Chennai.
A PMLA case was lodged against the firm for allegedly cheating the Indian Bank to the tune of several crores of rupees.
“Late Pallakudurai, P. Sujatha and Y. P. Shiravan, partners of Saravana Stores (Gold Palace), hatched a conspiracy with bank officials and caused a loss to the bank’s branch located in T. Nagar area of Chennai,” the ED said.
In second case, the ED attached assets worth Rs. 173.48 Crore belonging to Santiago Martin, a company which deals with online lottery.
The ED initiated the money laundering probe on the basis of the CBI’s FIR.
