Andhra Pradesh: ED attaches property valued at Rs 1.39 crore in DA case
Visakhapatnam, Feb 5 : The Enforcement Directorate (ED), on Thursday, provisionally attached movable and immovable properties valued at Rs 1.39 crore in connection with the case of a former Railway officer in disproportionate assets (DA) case.
The ED's Visakhapatnam Sub-Zonal Office has provisionally attached the properties under the Prevention of Money Laundering Act (PMLA), 2002.
Alladaboina Satish allegedly acquired disproportionate assets in his name and in the name of his family members.
"The attached properties are in the form of nine residential flats and plots as well as three fixed deposits in the name of Alladaboina Satish, his wife and his parents-in-law," the ED said in a statement.
The central probe agency initiated an investigation on the basis of an FIR registered by the Visakhapatnam Central Bureau of Investigation's (CBI) Anti-Corruption Bureau under Sections 13(2) read with Section 13(1)(e) of the Prevention of Corruption Act, 1988, against Alladaboina Satish, (Indian Railway Service of Engineers of 2001 batch), the then Deputy Chief Engineer/Design of the North Frontier Railway at Maligaon in Guwahati for acquiring assets in his name and in the name of his family members, which was disproportionate assets to his known sources of income.
As per the charge sheet filed by the CBI in this case, Alladaboina Satish had acquired disproportionate to the tune of nearly Rs 1.39 crore, which were 83.30 per cent in excess to his known sources of income during the check period from April 1, 2008 to January 24, 2016.
The ED investigation said that Alladaboina Satish fraudulently and dishonestly amassed immovable properties disproportionate to the known sources of his income.
The proceeds of crime (POC) in the form of cash were directly used to acquire immovable properties in the former Railway officer's name and his family members' names.
Huge cash deposits were also made in Alladaboina Satish, his wife and his father-in-law's bank accounts to camouflage the illicit origin of funds.
The said POC, through bank transfers, were also used to acquire immovable properties.
The POC in the form of cash were also handed over to his known person in lieu of bank transfers to acquire immovable properties.
Further investigation is under progress, the ED said.
The ED's Visakhapatnam Sub-Zonal Office has provisionally attached the properties under the Prevention of Money Laundering Act (PMLA), 2002.
Alladaboina Satish allegedly acquired disproportionate assets in his name and in the name of his family members.
"The attached properties are in the form of nine residential flats and plots as well as three fixed deposits in the name of Alladaboina Satish, his wife and his parents-in-law," the ED said in a statement.
The central probe agency initiated an investigation on the basis of an FIR registered by the Visakhapatnam Central Bureau of Investigation's (CBI) Anti-Corruption Bureau under Sections 13(2) read with Section 13(1)(e) of the Prevention of Corruption Act, 1988, against Alladaboina Satish, (Indian Railway Service of Engineers of 2001 batch), the then Deputy Chief Engineer/Design of the North Frontier Railway at Maligaon in Guwahati for acquiring assets in his name and in the name of his family members, which was disproportionate assets to his known sources of income.
As per the charge sheet filed by the CBI in this case, Alladaboina Satish had acquired disproportionate to the tune of nearly Rs 1.39 crore, which were 83.30 per cent in excess to his known sources of income during the check period from April 1, 2008 to January 24, 2016.
The ED investigation said that Alladaboina Satish fraudulently and dishonestly amassed immovable properties disproportionate to the known sources of his income.
The proceeds of crime (POC) in the form of cash were directly used to acquire immovable properties in the former Railway officer's name and his family members' names.
Huge cash deposits were also made in Alladaboina Satish, his wife and his father-in-law's bank accounts to camouflage the illicit origin of funds.
The said POC, through bank transfers, were also used to acquire immovable properties.
The POC in the form of cash were also handed over to his known person in lieu of bank transfers to acquire immovable properties.
Further investigation is under progress, the ED said.