The Directorate of Enforcement (ED), Chennai, has provisionally attached assets worth ₹55.30 crore, belonging to expelled DMK functionary and film producer Jaffer Sadiq and his associates, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
They include 14 immovable properties, such as the JSM Residency Hotel and a bungalow, and seven high-end vehicles acquired through criminal activities.
The action follows an investigation into Sadiq, the alleged leader of a drug cartel. The ED’s probe, based on NCB and customs investigations, led to searches at 15 locations in Tamil Nadu. The probe revealed that Sadiq, in collusion with his brother, Mohammed Saleem, and others, was actively involved in exporting and concealing pseudoephedrine and other narcotic substances. He had been a director/partner/proprietor of various firms/entities, which had been used in channeling and layering the proceeds of crime.
The proceeds were channeled into these investments through a network of bank accounts, including those controlled by Sadiq and his family membersThe laundered funds were used to acquire immovable and movable assets in the names of Sadiq, his wife Ameena Banu, Mydeen Gani, and others, including benamis.
Published - September 05, 2024 10:53 pm IST
