ED Attached Four Immovable Properties Rs.2.36 Crore in a Case of Stealing Funds by Public Servants in Conspiracy with Private Persons

ED Attached Four Immovable Properties Rs.2.36 Crore in a Case of Stealing Funds by Public Servants in Conspiracy with Private Persons

Reetu | Mar 6, 2022 |

ED Attached Four Immovable Properties Rs.2.36 Crore in a Case of Stealing Funds by Public Servants in Conspiracy with Private Persons

ED Attached Four Immovable Properties Rs.2.36 Crore in a Case of Stealing Funds by Public Servants in Conspiracy with Private Persons

In a case of misappropriation of funds by some public workers in collusion with private persons, the ED has provisionally attached four immovable assets worth Rs. 2.36 crore belonging to Dhara Prasad, Assistant Manager of Bharat Electronics Limited, under the PMLA, 2002.

Under the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate has provisionally attached four immovable properties worth Rs. 2.36 crore belonging to Dhara Prasad, Assistant Manager of Bharat Electronics Limited, in a case of misappropriation of funds by some public servants in collusion with private individuals.

On the basis of a FIR dated 03.02.2020 filed by the Anti Corruption Branch of the Central Bureau of Investigation in Chennai under section 13 (2) rws 13(1)(a) of the PC Act, 1988, and other sections of the IPC,1860, the ED launched a money laundering investigation.

Dhara Prasad, in collusion with other public servants and private individuals, withdrew Rs 9.50 crore from Bharat Electronics Limited’s accounts in the name of some private person without any supply of goods and in the name of tour and travel expenses of public servants without actually undertaking the tours, according to an ED investigation.

Dhara Prasad purchased four immovable properties in the names of himself and his wife with money misappropriated from M/s Bharat Electronics Limited’s accounts. The total value of these properties is Rs.2.36 crore.

The Enforcement Directorate provisionally attached these properties worth Rs.2.36 crore to prevent their sale as proceeds of crime and to prevent further actions under the PMLA, 2002 from being hampered.

More research is being carried out.

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