ED attaches assets worth Rs 3.12 cr in MDS case
Source: Chronicle News Service
Imphal, November 08 2022:
The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth Rs 3.12 crore belonging to former project director of Manipur Development Society (MDS) Y Ningthem and his associates in connection with the money laundering investigation related to fund embezzlement in MDS.
In a statement, the ED said its sleuths launched investigation into the MDS fund embezzlement case on the basis of an FIR registered by Imphal West police station on September 1, 2017 under Money Laundering Act, 2002 .
The probe was carried out under various provisions related to Prevention of Corruption Act, 1988, against officials of MDS and other individuals who allegedly misappropriated the MDS funds to the tune of more than Rs 169 crore.
Investigation by the ED revealed that huge amount of fund was embezzled and misappropriated from the MDS account by Y Ningthem Singh in criminal connivance with his associates and these diverted funds were transferred and laundered into various Shell firms' accounts and other individual/associ-ates accounts.
Subsequently, Y Ningthem and his accomplices acquired several properties at different locations.
In this connection, six immovable properties worth Rs 3.04 crore and an amount of Rs 8,20,000 available in various bank accounts have been attached by ED.
The ED had earlier frozen 11 different bank accounts on November 25, 2021 related to the accused individuals with a balance amount of Rs 41,53,489, the statement said, adding that further investigation is in progress.
Mention may be made here that the ED carried out investigation into the MDS scam against four former officials of the society including former chief minister and Congress leader O Ibobi Singh.
As part of the investigation, the ED conducted raids at several places including residential houses of the four former officials of MDS.