Lucknow: The ED searched 11 premises in Jhansi, Lucknow and other places in Uttar Pradesh and recovered incriminating documents and records of suspected benami properties linked to a former MLA allegedly involved in 60 criminal cases, an official said Thursday.
The Directorate of Enforcement (ED), Allahabad Sub-Zonal Office, conducted the search operations Wednesday at 11 locations as part of an investigation under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, against Deep Narayan Singh Yadav, former MLA from Garautha Constituency, Jhansi, and others, the ED said.
The federal probe agency initiated the investigation based on an FIR registered by the Vigilance Establishment, Government of Uttar Pradesh, alleging that Deep Narayan Singh Yadav had acquired disproportionate assets worth approximately Rs 23.02 crore, over and above his known sources of income during the check period, the ED said in a statement.
It revealed that more than 60 criminal cases had been registered against Deep Narayan Singh Yadav at various Police Stations in Jhansi and other districts of Uttar Pradesh.
These cases involve serious offences including dacoity, attempt to murder, extortion, attempt to commit culpable homicide, criminal breach of trust, cheating and forgery under the IPC, 1860. Many of these offences constitute scheduled offences under PMLA, 2002, said the statement.
It has been revealed from the FIRs/charge sheets that Deep Narayan Singh Yadav allegedly generated substantial Proceeds of Crime through the aforesaid criminal activities and abusing his political influence, the ED said.
It was revealed that he allegedly created a network of companies, including shell entities, for the purpose of layering and integrating the Proceeds of Crime, and projecting them as legitimate assets through various business entities and investments controlled by him, his family members and close associates, it said.
It has also been reported that several movable and immovable assets were allegedly acquired in the names of associates and distant family members by placing the Proceeds of Crime in such properties and projecting them as untainted assets, the ED said.
During the search operations, the ED recovered several incriminating records and documents, including inter-company transactions, third-party agreements, financial records indicating suspicious transactions, and documents concerning luxury assets held in the names of various business entities, family members, and associates.
Certain companies were also found to exist only on paper, without conducting any genuine business activities. Documents relating to suspected benami immovable properties and records indicating layering of Proceeds of Crime were also recovered and seized, the ED said.
