Bhopal (Madhya Pradesh): The Directorate of Enforcement (ED), Bhopal, has provisionally attached assets valued at Rs 1.47 crore under the Prevention of Money Laundering Act (PMLA) in the case of Hero Keswani, an Upper Division Clerk (UDC) in the Medical Education Department, Bhopal, officials said on Tuesday.
The ED initiated the investigation based on an FIR registered by the Economic Offences Wing (EOW), Bhopal, under the Prevention of Corruption Act, 1988.
The investigation revealed that during the period from January 2005 to Aug 3, 2022, Keswani acquired assets disproportionate to his known sources of income to the extent of Rs 1.47 crore, amounting to about 286.27% of his lawful income.
A cash amount of Rs 86.73 lakh was recovered from his residence during search operations conducted by the EOW, Bhopal, which he failed to satisfactorily explain.
Further investigation revealed that the proceeds of crime were routed and invested in the name of his wife, who did not have any credible or verifiable independent source of income.
Claims of income from household activities were found to be unsupported by documentary evidence.
Analysis of bank accounts indicated irregular cash deposits and transactions inconsistent with known income, indicating layering and projection of proceeds of crime as legitimate.
The accused also failed to disclose asset and income details to his department and attempted to conceal ownership by acquiring properties in the names of family members.
The attached assets include immovable properties, bank balances and cash, which were found to be proceeds of crime.
The attachment has been made to prevent the concealment or dissipation of such assets.
