The Enforcement Directorate on Friday attached assets of Shiv Sena MLA Pratap Sarnaik in connection with the National Spot Exchange Limited (NSEL) scam.
The Central agency attached two flats and a parcel of land in Thane worth ₹11.35 crore of Mr. Sarnaik and his family members under provisions of the Prevention of Money Laundering Act (PMLA).
The ED initiated a money-laundering investigation on the basis of an FIR registered on September 30, 2013, by the Economic Offences Wing (EOW) of the Mumbai police.
As per the probe under the PMLA, money collected from various investors was diverted by borrowers/trading members of NSEL for other activities such as investment in real estate, repayment of outstanding debts and so on.
The investigation further revealed that Aastha Group comprising one of the defaulting members of NSEL had a liability of ₹242.66 crore towards NSEL. Aastha Group had diverted ₹21.74 Crore of Vihang Aastha Housing Projects LLP in the period 2012-13. Out of the total amount of ₹21.74 crore received by Vihang Aastha Housing Projects LLP, ₹11.35 crore was transferred to Vihang Enterprises & Vihang Infrastructure Pvt. Limited, both firms controlled by Mr. Sarnaik and his family members.
The amount of ₹10.50 crore originating from Aastha Group was paid to Yogesh Deshmukh and has been attached under the PMLA.
Earlier, in the case, assets amounting to ₹3,242.67 crore had been attached. The total value of attached assets in this case now stands at ₹3,254.02 crore.
The FIR by the EOW also names directors and key officials of NSEL and 25 defaulters of NSEL.
According to a statement, the accused hatched a criminal conspiracy to defraud investors, induced them to trade on the platform of NSEL, created forged documents such as warehouse receipts, falsified accounts and thereby committed criminal breach of trust, involving ₹5,600 crore of approximately 13,000 investors.
