ED attaches properties worth Rs 3 crore of Myron Rodrigues in money laundering case

Panaji, Feb 27 (SocialNews.XYZ) The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 3 crore in Goa in connection with a major money laundering probe linked to alleged fraudulent investment schemes operated by Myron Rodrigues and others, an official statement said on Friday.

The action was taken by the ED’s Panaji Zonal Office on February 18 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The investigation was initiated on the basis of FIRs registered by the Economic Offences Cell, North Goa, and the MHB Colony Police Station in Mumbai under Sections 406 (criminal breach of trust) and 420 (cheating) of the IPC, 1860.

According to the ED, its probe revealed that Myron Rodrigues and his associates allegedly lured multiple investors with promises of high and assured returns through investments in the stock market and other business ventures.

Investors were reportedly induced to transfer substantial sums via RTGS, NEFT, and other banking channels, the ED said.

“The funds so collected were dishonestly retained and diverted for personal use and for acquisition of various assets,” the agency said.

The ED stated that its investigation under the PMLA has identified the generation of 'Proceeds of Crime' amounting to approximately Rs 14.82 crore.

These proceeds were allegedly used to acquire assets such as bank deposits, fixed deposits, and immovable properties. The assets were then projected as untainted to conceal their illicit origin.

Earlier, the ED had issued a Provisional Attachment Order dated November 25, 2024, attaching movable and immovable properties valued at around Rs 2.98 crore in the same case.

With the latest attachment of properties worth Rs 3 crore, the total value of assets attached in the matter has gone up to approximately Rs 5.98 crore.

Further investigation into the case is underway.

Source: IANS