CHENNAI: The Enforcement Directorate (ED) has successfully restituted a property, worth Rs 12.73 crore, to the victim and rightful claimant in an anti-money laundering case being investigated by the agency.
According to a release issued by ED, the investigation was initiated on the basis of an FIR registered by the central crime branch (CCB) of Chennai police a few years ago. The FIR was registered on the basis of an illegal land grabbing complaint.
ED’s investigation revealed that a group of land grabbers had unlawfully encroached a plot in Saidapet. The land grabbers subsequently sold the property to a third party by forging documents and falsely claiming ownership. Following this, ED issued a provisional attachment order on March 21, 2017, attaching the property valued at Rs 11.4 crore, which was later confirmed by the Adjudicating Authority.
A prosecution complaint was filed before the principal sessions judge court in Chennai. ED said that the current value of the property stands at Rs 12.73 crore, and its restitution to the rightful claimant and victim marks a significant step in the agency’s ongoing efforts to ensure that the proceeds of crime are returned to the affected.