The Enforcement Directorate (ED), Surat, attached assets worth Rs 3.82 crore in form of bank balance, fixed deposits (FD) and insurance policies on Saturday in connection wity the Bhajiyawala money laundering case.
The assets were attached under Section 5 of the Prevention of Money Laundering Act, 2002. So far, assets worth Rs 4.84 crore have been attached in this case. A probe was initiated against financier Kishor Bhajiyawala, his sons Jignesh and Vilas and others by the ED based on an FIR registered by Anti-Corruption Bureau and Central Bureau of Investigation, Gandhinagar.
The ED had arrested Jignesh on January 19. He is currently in judicial custody. The Income Tax department had attached Rs 1.02 crore cash in new currency notes on February 21.
During investigations, the officials found that Jignesh “misused” banking channel to allegedly launder his demonetised currency. Post-demonetisation, the accused had allegedly fraudulently deposited Rs 3.82 crore cash in 67 bank accounts of his family members as well as various shell accounts of his relatives and employees without their consent.
Further, the officials noticed that out of Rs 3.82 core deposited by him, he had invested Rs 50 lakh in the purchasing LIC policies and Rs 1,59,71,000 in fixed deposits, leaving behind Rs 1,62,95,630 in his bank accounts. Apart from this, he had withdrawn Rs 9,33,370.