Five days after it filed a charge-sheet against former Maharashtra MLA (member of legislative assembly) Vivekanand Shankar Patil and the Karnala Nagari Sahakari Bank Ltd in connection with an Rs560-crore money-laundering probe, the Enforcement Directorate (ED) on Tuesday said that it has attached properties to the tune of Rs234 crore of the four-time Peasants and Workers Party lawmaker in connection with the case.
An ED official here said that the agency has attached properties to the tune of Rs234 crore of Patil in the form of the Karnala Sports Academy and many land parcels.
The ED case of money-laundering is based on the FIR (first information report) lodged by the Economic Offences Wing of Navi Mumbai police last year against 76 persons after the Reserve Bank of India detected the fraud following an audit.
The ED official said that the audit revealed that Mr Patil was siphoning off funds since 2008 from the Bank through 63 fictitious loan accounts to the loan accounts of Karnala Charitable Trust and Karnala Sports Academy, which were founded by him. It was also found that the management of the Bank was under his control.
The ED arrested him on 15th June this year.
The official said that the PMLA (Prevention of Money Laundering Act) probe against Mr Patil revealed that the defrauded amount was to the tune of approximately Rs560 crore, including interest in respect of 67 fictitious accounts. He said that to hide the siphoning, the available funds were routed to these fictitious accounts and from these accounts to the several bank accounts of entities founded or controlled by Mr Patil.
"These funds were utilised by the Karnala Charitable Trust, Karnala Sports Academy etc for construction of properties such as Sports Complex, College and Schools and for other personal gains, thereby using the proceeds of crime and projecting the same as un-tainted in contravention of offence of money laundering," he added.
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