Guwahati, Dec 17 (SocialNews.XYZ) The Directorate of Enforcement (ED), Guwahati Zonal Office, has provisionally attached movable and immovable assets worth Rs 2.40 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a disproportionate assets case against Karun Jyoti Baruah, the then Superintendent Engineer (Civil) of Oil India Limited, Duliajan, in Assam’s Dibrugarh district.
According to an official statement issued by the ED on Wednesday, the attached assets include 67 Life Insurance Corporation (LIC) policies valued at Rs 1.96 crore, along with an RCC residential building and a covered garage structure valued at Rs 43.99 lakh.
The attachment has been made as part of an ongoing money laundering investigation linked to alleged corruption during Baruah’s tenure.
The ED initiated its probe based on an FIR registered by the Central Bureau of Investigation (CBI), Anti-Corruption Branch (ACB), Guwahati, against Baruah under various sections of the Prevention of Corruption Act, 1988.
The CBI had subsequently filed a chargesheet in the case. As per the chargesheet, during the check period between April 1, 2009, and March 31, 2019, Baruah was found to have assets disproportionate to his known sources of income to the tune of Rs 2.39 crore.
Financial investigation conducted by the ED revealed that Baruah had purchased 44 LIC policies worth approximately Rs 62.84 lakh in cash, allegedly to conceal the money trail.
These policies were taken either in his own name or in the names of family members who did not have sufficient or corresponding sources of income.
The probe further revealed that a large number of additional LIC policies were purchased through banking channels. However, Baruah reportedly failed to satisfactorily explain how such a high volume of insurance investments could be made from his legitimate income.
The ED also found that during the check period, Baruah had constructed an RCC residential house along with a covered garage at an estimated cost of Rs 43.99 lakh, which the agency claims was financed using proceeds of crime.
The Enforcement Directorate said that further investigation in the case is currently underway.
Source: IANS
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