NEW DELHI: The Enforcement Directorate (ED) has attached immovable properties worth Rs. 700.27 crore in connection with the case relating to late gangster Iqbal Mirchi and his family members.
The properties were seized under the provisions of the Fugitive Economic Offenders Act (FEOA), 2018.
The attached assets include three prime properties, Rabia Mansion, Marium Lodge and Sea View, located at Worli, Mumbai, valued at approximately Rs. 497 crore, along with overseas properties in Dubai valued at approximately Rs. 203.27 crore.
The federal probing agency had initiated an investigation based on multiple FIRs registered by Mumbai Police, including M.R.A. Marg Police Station, Yellowgate Police Station, and cases registered by Byculla Police Station, Anti-Narcotics Cell and DCB, CID, Mumbai Police against Late Iqbal Mohammad Memon known as Iqbal Mirchi under various sections of IPC, Arms Act, TADA and NDPS Act.
“Investigation under PMLA revealed that Iqbal Mirchi was involved in organised criminal activities, including drug trafficking, extortion, illegal arms activities and other offences, through which substantial proceeds of crime were generated. The proceeds were laundered through the acquisition of properties in India and abroad in the names of family members, associates and entities controlled by him,” the agency said.
The ED stated that during the investigation, they further found that Worli properties belonging to Sir Mohammad Yusuf Trust were purchased in 1986 through Rockside Enterprises for Rs. 6.50 lakh.
Though the properties continued to remain in the name of the Trust on paper, the actual ownership and control remained with Iqbal Mirchi and his family members.
“Investigation established that the Trust, in conspiracy with Iqbal Mirchi, had misrepresented facts before the Court and concealed material facts to secure release of the properties from earlier attachment proceedings,” the agency said.
Further investigation revealed that the Proceeds of Crime were utilised for the acquisition of overseas assets, including Hotel Midwest Apartment, Dubai and 14 real estate units situated at Corporate Bay and DEC Towers, Dubai, in the name of Asif Iqbal Memon and his family members.
ED has filed a Prosecution Complaint and Supplementary Prosecution Complaint under the provisions of PMLA before the Hon’ble Special Court (PMLA), Mumbai, against Asif Iqbal Memon, Junaid Iqbal Memon, Hajra Iqbal Memon and others for the commission of the offence of money laundering.
The Court had declared Asif Iqbal Memon, Junaid Iqbal Memon and Hajra Iqbal Memon as Fugitive Economic Offenders under the provisions of FEOA, 2018.