CHENNAI: Enforcement Directorate attached a property worth Rs 15 crore at Valasaravakkam in the city under Prevention of Money Laundering Act after it was found that the land documents were forged by a gang with the assistance of a director a popular group of logistics and warehousing companies.
The gang identified the prime land of about 12 grounds in a posh locality whose actual owners were septuagenarian women.
With the assistance and funding of a director of a resourceful group of companies engaged in logistics and warehouse operations, the gang arranged a fake transaction to create ownership in favour of a penurious person by fabricating the land registration through forgery. They then executed a transfer in the favour of the director in guise of genuine sale.
In 2002, the ED upon registering a “money laundering case”, traced the money trail flowing out from the bank account of the director of the company to a proximately opened account and its transmission to the members of the gang who had no legal and rightful title on the grabbed land.