ED Seizes Assets Valued at Rs 34.47 Lakh in Disproportionate Wealth Investigation
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Synopsis
The Enforcement Directorate (ED) has provisionally attached properties valued at Rs 34.47 lakh in a disproportionate assets case involving Anshul Madaan, a suspended Sub Post Master. The assets are identified as proceeds of crime linked to fraudulent activities resulting in substantial losses to the Department of Posts.
Key Takeaways
- ED has attached assets worth Rs 34.47 lakh.
- Investigation linked to Anshul Madaan, a suspended Sub Post Master.
- Fraud involved siphoning off Rs 5.84 crore from the Department of Posts.
- Manipulation of various accounts led to wrongful loss.
- ED continues to investigate further into the case.
Gurugram, March 27 (NationPress) The Enforcement Directorate (ED) has seized properties totaling Rs 34.47 lakh, recognized as proceeds of crime, pertaining to its investigation into a case of disproportionate assets, an official reported on Thursday.
The Gurugram Zonal Office of the ED has provisionally attached assets classified as Proceeds of Crime, specifically movable assets worth Rs 34.47 lakh. This includes equity shares and account balances associated with Anshul Madaan and a family member, which were acquired through fraudulent means by Anshul Madaan, a Sub Post Master currently under suspension at the Department of Post, according to an ED statement.
The investigation was prompted by an FIR lodged by the Central Bureau of Investigation (CBI), ACB Chandigarh, against Anshul Madaan and others.
The accused have engaged in fraudulent activities such as siphoning and reallocating funds, criminal misappropriation, and other fraudulent actions, withdrawing a total of Rs 5.84 crore, resulting in a wrongful loss of the same amount to the Department of Posts.
The ED's investigation uncovered that while serving as Sub Post Master, Anshul Madaan manipulated various account types including KVPs, SCSS, TD, MIS, and SB by inflating balances, reviving dormant accounts, and withdrawing cash or transferring funds to his or his family members' accounts for personal gain, thereby inflicting a loss on the government treasury.
Moreover, it was found that the Proceeds of Crime (POC) generated by Anshul Madaan were transferred to bank accounts belonging to him and his family.
A significant portion of the POC was lost by Anshul Madaan through trading in Future & Options.
Further investigation is ongoing, as stated by an official.
