New Delhi, Feb 5 (SocialNews.XYZ) In a case related to alleged corruption involving a former Guwahati-based railway official, the ED has attached nine residential flats and plots worth Rs 1.39 crore, said an official from the probe agency, Visakhapatnam Sub-Zonal Office, on Thursday.
Alladaboina Satish, who was earlier employed as Dyputy Chief Engineer, Design, North Frontier Railway, Maligaon, Guwahati, could not give satisfactory explanation with respect to acquisition of properties in his name, in the name of his family members/relatives and also could not provide any evidence/documentary proof to show the source of the same, said the statement issued by the Directorate of Enforcement (ED), Visakhapatnam Sub-Zonal Office.
The statement said the ED has provisionally attached movable/immovable properties having a value of Rs 1.39 Crore under the Prevention of Money Laundering Act (PMLA), 2002.
The case is linked to Satish acquiring disproportionate assets in his name and in the name of his family members. The attached properties are in the form of nine residential flats and plots as well as three fixed deposits in the name of Alladaboina Satish, his wife and his parents-in-law, the ED said.
The probe agency initiated an investigation on the basis of an FIR registered by CBI, ACB, Visakhapatnam under Sections 13(2) read with 13(1)(e) of the Prevention of Corruption Act, 1988 against Satish.
As per the chargesheet filed by the Central Bureau of Investigation in this case, Satish had acquired disproportionate assets to the tune of Rs 1.39 crore, which were 83.30 per cent in excess of his known sources of income during the check period, April 1, 2008, to January 24, 2016.
The ED investigation revealed that Satish fraudulently and dishonestly amassed immovable properties disproportionate to the known sources of his income.
The Proceeds of Crime (POC) in the form of cash were directly used to acquire immovable properties in his and his family members' names.
Huge cash deposits were also made in his, his wife's, and his father-in-law's bank accounts to camouflage the illicit origin of funds, the ED said.
The said POC, through bank transfers, were also used to acquire immovable properties. POC in the form of cash were also handed over to his known person in place of bank transfers to acquire immovable properties, the ED said.
Source: IANS
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