HYDERABAD: The Hyderabad unit of the Enforcement Directorate has attached various immovable properties worth Rs 94.44 lakh and movable properties worth Rs 23.20 lakh in form of bank balances (a total of Rs 1.17 crore) belonging to Molugu Vijai Kumar and his family members under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The agency had earlier initiated investigation on the basis of an FIR registered by the CIU, ACB, Hyderabad under Section 13(2) read with 13(1) (e) of the Prevention of Corruption Act 1988, against Vijai Kumar, the joint director in Boilers department, who was holding additional charge of director of boilers, Telangana.
It was alleged that he had acquired assets disproportionate to his known sources of income by indulging in corrupt practices. As per the chargesheet filed by ACB, Vijai Kumar was found to be in possession of assets worth Rs 2.19 crore which were disproportionate to his known sources of income.
ED investigation revealed that Vijai Kumar and his family members invested the proceeds of crime in various immovable properties. He laundered the ill-gotten money projecting the same as business income of his family members and as hand loans received from various persons.
ED investigation also revealed that the accused disposed several immovable properties which were identified by ACB during its investigation and confiscation of which was prayed for in ACB’s chargesheet. Further, the accused were also found to have dissipated the proceeds of crime by withdrawing large amounts of cash from banks.