Panaji, Oct 3 (NationPress) The Directorate of Enforcement (ED) from the Panaji Zonal Office has apprehended Shivshankar Mayekar under the Prevention of Money Laundering Act (PMLA), 2002, in relation to a significant land scam case involving valuable properties in Goa, according to an official announcement made on Friday.

Mayekar was detained on October 1 and presented before the Special Court (PMLA) in Mapusa on October 2. The court granted the ED nine days’ custody until October 10.

The investigation by the ED originates from a FIR filed by the Goa Police against Yeshwant Sawant and others under various sections of the Indian Penal Code, alleging fraud against the Communidade of Anjuna. The accused allegedly utilized forged documents to illegally mutate valuable land located at Survey No. 496/1-A, Anjuna, into their names.

Subsequently, parts of this land were sold to third parties, resulting in considerable proceeds of crime (POC) that became the focal point of the money laundering investigation.

ED findings indicated that Mayekar was a pivotal player in the fraud. He is accused of illegally acquiring numerous parcels of land across Goa in the names of friends and relatives and selling portions of these properties while routing the sale proceeds through proxy accounts.

He then funneled the funds back into his own accounts, layering and integrating the illicit gains.

Previously, on September 9, the ED conducted extensive search operations and discovered documentary proof of land parcels obtained in the names of Mayekar's associates and relatives.

According to the ED, these properties encompass several lakh square metres in prime tourist areas such as Anjuna and Assagao in Bardez taluka.

The agency estimates that the market value of the illegally acquired properties exceeds Rs 1,200 crore, marking it as one of the largest land scams revealed in Goa in recent times.

The ED has identified Mayekar as one of the main conspirators and a beneficiary of the proceeds of crime.

His custodial interrogation is anticipated to provide further insights into the network of 'benami' transactions, potential involvement of other accomplices, and the trajectory of laundered money.