Friday, Oct 31, 2014

StockGuru scam: ED attaches couple’s assets worth Rs 83 cr

Written by Press Trust Of India | Newdelhi | Posted: January 1, 2014 10:19 pm

Initiating its first action in the multi-crore StockGuru scam,the Enforcement Directorate has issued attachment orders on properties worth Rs 83 crore of main accused Ullas Prabhakar Khaire and his wife under anti-money laundering laws.

The seized properties,spread out across the country in Maharashtra,Hyderabad,Andhra Pradesh and Haryana,include some ‘benami’ immovable assets that the couple had allegedly purchased on fake identities.

The agency,sources said,will soon issue prohibitory orders on these assets,including cash,jewellery and bank accounts,under the provisions of the Prevention of Money Laundering Act (PMLA).

ED took the latest action after it recorded the statement of the duo,lodged in Tihar jail in judicial custody,and went through the probe reports of other agencies.

The agency’s action to attach these properties under PMLA is aimed at depriving the accused of the benefits of these assets,alleged to have been accumulated through the “proceeds of crime” by duping investors.

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