New Delhi: The Enforcement Directorate (ED) on Tuesday February 8 said it has provisionally attached immovable assets worth Rs 1.29 crore in connection with a money laundering case.
The case was lodged against Ashish Prafulbhai, the Chairman of Shantinagar (Shela) Co-operative Housing Society Ltd., and others for cheating land buyers.
Earlier, CID Crime, Ahmedabad had lodged an FIR under various sections of IPC on the basis of which the ED initiated a probe of Prevention of Money Laundering. The ED then filed a PMLA case against Ashish Prafulbhai Patel and others for committing alleged fraud of Rs 11.50 crore.
They cheated land buyers on the pretext of selling them plots. They made sale deed but neither executed it nor they handed over the possession of land.
The ED has learnt in its investigation that Ashish Patel and others had hatched a criminal conspiracy, with a motive to cheat the buyers of land.
Patel and others executed sale agreement and against the said agreement received Rs. 11.50 crore from the purchasers. But they neither executed the sale deeds nor handed over physical possession to the buyers.
“The amount received by Patel and other accused is therefore, proceeds of crime from scheduled offence under Section 2(1)(u) of PMLA. Therefore, proceeds of crime to the tune of Rs. 1.29 Crore (approx), in form of immovable properties of Ashish Prafulbhai Patel have been provisionally attached by the ED,” said an ED official.
The official said that further investigation into the matter is underway.
