ED attaches Rs 2.5 crore worth assets in PFI case
According to the Enforcement Directorate, the attached assets in the Popular Front of India case included four unsold villas and 6.75 acres of vacant land
The Enforcement Directorate (ED) on Saturday said that they have attached immovable properties worth Rs 2.53 crore in the Popular Front of India (PFI) and others case.
According to the ED, the attached properties included four unsold villas measuring 338.03 sq. mt. and 6.75 acres of vacant land from the Munnar Villa Vista Project.
The ED issued a Provisional Attachment Order for these properties on January 7, which was later confirmed by the Adjudicating Authority on June 30.
The probe agency said it launched a PMLA investigation based on an FIR and charge sheet filed by NIA, Kochi, before the Special Court for Trial of NIA cases in Ernakulam, Kerala.
According to the FIR and charge sheet, a group of PFI/SDPI (Socialist Democratic Party of India) activists conspired to provide training in the use of explosives and weapons, and organised a terrorist camp at Narath in Kannur district.
Subsequently, more FIRs against members of PFI and its related entities were included in the PMLA investigations in the case.
The ED probe revealed that PFI leaders and members associated with overseas entities were developing a residential project -- Munnar Villa Vista Project (MVVP) in Munnar, Kerala, with the motive of laundering money collected from foreign countries and within the country, to generate funds for PFI's radical activities.
The project was developed through a company named Munnar Villa Vista Pvt. Ltd. (MVVPL).
"The ED investigation further revealed the infusion of a large volume of unaccounted cash into the project, cash subscriptions of MVVPL shares in the name of ghost shareholders, transfer of MVVPL shares without consideration, and bogus transfers to other companies without any supply of goods or services. As a result of the ED investigation into the money laundering activities of MVVPL and its key individuals, a total proceeds of crime amounting to Rs. 21.9 crore was identified," said an official.
A Prosecution Complaint was filed before the Special Court of PMLA cases in Lucknow on May 6.
The court has also framed charges in the case, and the trial is currently underway.