Thursday, December 26, 2024
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ED Seizes Rs. 64.68 Crore in Assets Linked to Land Encroachment and Cheating Case

BANGALORE, EW Correspondent: In a significant development, the Enforcement Directorate (ED) has provisionally attached assets worth Rs. 64.68 Crore in connection with a case related to the encroachment of government land and cheating. The assets include one immovable property situated in the upscale locality of Indira Nagar, Bangalore, valued at Rs. 62.05 Crore, as well as fixed deposits amounting to Rs. 2.63 Crore.

The ED’s action comes as a part of its ongoing investigation into allegations of land encroachment and fraudulent activities involving Chitra Poornima and several others. The enforcement agency acted under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) after uncovering evidence of illicit financial transactions and money laundering linked to the case.

The attached property, a prime piece of real estate in Indira Nagar, represents a substantial portion of the total assets seized by the ED. The agency aims to prevent any further disposal or transfer of these assets while the investigation is ongoing.

The case against Chitra Poornima and her associates revolves around allegations of encroaching upon government-owned land and engaging in fraudulent activities, including cheating and misappropriation of funds. The ED’s actions underscore its commitment to combat financial crimes and money laundering, ensuring that those involved in such illicit activities are brought to justice.

This development is expected to send a strong message to individuals and entities engaged in unlawful land transactions and fraudulent financial dealings, reaffirming the government’s determination to maintain the integrity of public land and financial systems.

The Enforcement Directorate continues to delve deeper into the case, and further developments are anticipated as the investigation unfolds.

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