ED carries out searches under PMLA in Arunachal Pradesh

Directorate of Enforcement (ED) has carried out two search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in Arunachal Pradesh in respect of an investigation relating to the Trans Arunachal Highway Project and freezed bank accounts/RD/FDs having a balance of Rs 3.95 Crore.

In a statement ED stated that ED initiated a money laundering investigation on the basis of an FIR dated 01.02.2019 registered by SIC (Vig.) Itanagar, Arunachal Pradesh under various sections of Indian Penal Code, 1860, and section 13(1)(a) & 13(2) of P. C. Act, 1988.

The FIR revealed that some Government officials in conspiracy with some private individuals misappropriated the funds of compensation for the affected persons/beneficiaries of Trans Arunachal Highway Project. Investigation by ED has revealed that multiple fake beneficiaries were created by some govt. officials in connivance with private individuals to cause wrongful gain to themselves and wrongful loss to Govt. exchequer. The Investigation has further established that part of the Proceeds of Crime generated by the accused persons were routed through several banks’ accounts and FDs.