Indore (Madhya Pradesh): The Directorate of Enforcement (ED), which is probing a sensational ₹150 crore fake bill scam of the Indore Municipal Corporation (IMC), provisionally attached assets worth estimated ₹34 crore (approx.) under the provisions of Prevention of Money Laundering (PMLA) Act, 2002.
The attached assets include 43 immovable properties (both residential & agricultural) located in Madhya Pradesh and Uttar Pradesh. The ED investigation revealed that a large amount of cash was withdrawn directly and indirectly using mule accounts and was distributed among the accused contractors and government officials.
The ED initiated investigation based on various FIRs registered by the police under various sections of the IPC, 1860 in connection with the IMC fake bills scam.
It is said that the major part of the attached assets belongs to Abhay Rathore, a kingpin of the scam.
The ED investigation revealed that various contractors in connivance with IMC officials hatched a criminal conspiracy and generated proceeds of crime (POC) by presenting fake bills of ‘drainage construction work’, without carrying out any work on the ground.
However, payments to the tune of ₹92 crore were illegally made to the accused contractors. The ED probe also revealed that a large volume of cash was withdrawn directly and indirectly using mule accounts maintained by the contractors in the name of their employees and labourers and this cash was distributed among the accused contractors and government officials.
Earlier, on August 5 and 6 last year, the ED carried out search operations at more than 20 locations and seized assets worth more than ₹22 crore along with various incriminating documents and digital devices. Further investigation is underway.
