The Central Economic Intelligence Bureau (CEIB) will soon initiate proceedings to attach properties owned by members of the recently busted Muvattupuzha gold smuggling syndicate.
Officials with the Customs Department said the Special Investigation and Intelligence Branch that probed the case had submitted a recommendation in this regard to the CEIB. As per the recommendations, about 56 properties across the State worth several crores of rupees would face attachment under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act.
The majority of these properties belonged to P.A. Naushad, who allegedly spearheaded the racket. Naushad, allegedly using the money received from gold smuggling, floated a real estate agency and purchased land in Ernakulam and neighbouring districts. Besides, he also began constructing a luxury resort on his property in Pallivassal near Munnar, they said.
Besides Noushad, Jabin K. Baheer, a former civil police officer arrested on charge of facilitating smuggling through the Cochin International Airport, had also invested heavily in the sector.
COFEPOSA provisions
Noushad, Faisal P.A., Salim M.M., Fazil K.B., Yasir Ibnu Muhammed, Syfudheen M.S., Jabin K. Basheer, Bibin Scaria and Shinoy Mohandas are currently under preventive detention under the Provisions of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA).
The racket had allegedly smuggled between 1,700 kg and 2,000 kg of gold into Kerala between 2013 and 2015. Its operation came to light with the seizure of 13 kg of gold hidden beneath the seats of two ferry coaches and the arrest of one Salim, who landed here from Dubai on May 25 last year.
The Customs sleuths have so far arrested over 50 persons in this connection, including a police officer deployed at the emigration wing at CIAL, employees of a ground handling agency and the owner of a jewellery shop in Muvattupuzha.
Meanwhile, the Enforcement Directorate (ED) has begun probing the allegations of money laundering for smuggling gold by the accused. ED officials said that they were accessing the reports from the Customs Department which first registered case in the incident.
