ED Provisional Attachment of Rs 34 Lakh in PMLA Case Involving M/s Lompire and Associates
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Synopsis
The Enforcement Directorate (ED) has provisionally attached immovable property worth Rs 34 lakh as part of an investigation into M/s Lompire and its affiliates, revealing extensive financial fraud and money laundering activities linked to substantial losses to Bank of India.
Key Takeaways
- The ED has attached property worth Rs 34 lakh.
- Investigation relates to M/s Lompire and partners.
- Allegations include theft and fraud causing Rs 11.17 crore loss.
- Seizures include gold, cash, and incriminating documents.
- Further legal actions are expected as the probe continues.
Ahmedabad, March 26 (NationPress) The Enforcement Directorate (ED) has provisionally attached immovable property worth Rs 34 lakh under the Prevention of Money Laundering Act (PMLA), 2002, related to an ongoing inquiry against M/s Lompire and its associated entities. This announcement was made on Wednesday by the ED in a formal statement.
The ED's investigation stems from an FIR filed by the Central Bureau of Investigation (CBI), Anti-Corruption Bureau (ACB), Gandhinagar, which claims that M/s Lompire, M/s Invert Triangle, and their partners were part of a criminal conspiracy, engaging in theft, cheating, forgery, and causing a wrongful loss of Rs 11.17 crore to Bank of India/Temple Tree Investment Private Limited. The accused individuals allegedly profited unlawfully through these fraudulent actions, as reported by the agency.
According to the ED’s statement, the agency scrutinized various bank accounts associated with the beneficiaries to track the ultimate use of funds illicitly acquired by the suspects. The investigation unveiled a significant financial trail and further corroborated the money laundering charges against the accused.
The ED has also executed searches at 10 locations across Gujarat and Maharashtra, seizing assets that include gold valued at approximately Rs 8.90 lakh, cash amounting to Rs 1.83 lakh, along with numerous incriminating documents and records. Furthermore, several bank accounts with a cumulative balance of around Rs 9.62 lakh have been frozen as part of the ongoing inquiry.
This provisional asset attachment represents a crucial step in the ED’s initiative to combat financial fraud and money laundering. The ED continues to advance its investigation, with further legal actions anticipated as the case develops.
