New Delhi, Oct 16 (IANS) The Directorate of Enforcement (ED) has provisionally attached assets and proceeds of crime worth Rs 136.44 crore under the Prevention of Money Laundering Act (PMLA) as part of its ongoing probe into alleged large-scale illegal coal mining and pilferage in the leasehold areas of Eastern Coalfields Limited (ECL), an official statement said on Friday.
According to ED, the illegal activities were allegedly carried out by a syndicate led by Anup Majee alias Lala.
The agency said its investigation revealed that the syndicate was involved in the illegal excavation and large-scale pilferage of coal, which was subsequently sold for cash to various factories in West Bengal with the purported assistance of local administration officials.
To conceal and layer the proceeds generated from the alleged illegal activities, the syndicate acquired and operated several shell or jamakharchi companies, the ED said.
These companies were allegedly beneficially owned and controlled by Majee but held in the names of his relatives, employees and key associate Gurupada Majee.
The agency alleged that cash generated from the illegal sale of coal was routed through these entities using accommodation entries and deposited into their bank accounts to obscure the origin and ownership of the funds.
The investigation also found that proceeds of crime were invested in resorts beneficially owned by Anup Majee, according to the ED.
The assets covered by the latest Provisional Attachment Order include two hotel-cum-resorts, Garh Panchakot Eco Tourism in Purulia and Biharinath Eco Tourism in Bankura, two properties in Kolkata, balances in bank accounts of the alleged shell companies, and shares and mutual fund investments held by members of the Majee family.
The ED had earlier attached proceeds of crime worth Rs 678.64 crore in the same case. With the latest attachment of Rs 136.44 crore, the total value of attachments has risen to Rs 815.08 crore.
The agency said it is continuing its investigation to unravel various layers of the alleged money-laundering network, trace the ultimate beneficiaries of the proceeds of crime, and identify other individuals and entities suspected of laundering funds generated through illegal coal mining and pilferage.
Further investigation is underway.
–IANS
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