Lamjingba Group MD Jacky sent to jail
Source: Chronicle News Service
Imphal, January 30 2023:
Lamjingba Group managing director (MD) Sanasam Jacky has been remanded in judicial custody for 15 days till February 13.Jacky was produced before the court of Chief Judicial Magistrate, Imphal by a team of Enforcement Directorate (ED) led by assistant director M Sibananda Singh on Monday.
Special Public Prosecutor (SPP) N Brojendro stated in the court that while in the custody of ED, voluntary statements of the accused were recorded under section 50 of Prevention of Money Laundering Act (PMLA), 2002 from January 21 to 30 during which Jacky admitted to direct involvement in commission of the offence of money laundering.
Consequent to his statements, it is necessary to record the statements of other co-accused, the SPP reasoned while disclosing that the accused was found in possession of several assets both movable and immovable.
The assets are required to be secured and impounded for which sufficient time is necessary for proper verification and physical identification of those assets, the SPP continued.
During interrogation Jacky also confessed that in connivance with other associates he had transferred the ownership and title of some of his assets both movable and immovable by way of direct sale, mortgage, etc., the SPP stated in the court.
Further, the SPP submitted that huge amount of illegally collected money were transferred in various bank accounts of the Lamjingba Group of Companies and in the personal accounts of the prime accused and his associates.
These funds were subsequently invested for acquisition of several properties and for personal expenses of the accused, he maintained, while informing that investigation to identify and ascertain all properties acquired by the accused out of proceeds of crime derived from operation of Ponzi scheme is under process.
If released he may withdraw all available balance from the accounts and also attempt to withdraw and transfer all share/stock invested in various private firms/companies, including investment made in foreign countries and in cypto currencies, Brojendro cautioned, while adding that the accused is suspected to have concealed and stashed more undisclosed cash at different locations/premises in addition to recovery and seizure of Rs 34 lakh currency from him.
The SPP prayed for filing a separate petition for custodial interrogation of the accused for verification of information, cross-examination and further investigation if required and to remand the accused into judicial custody.
After hearing arguments of both counsels, CJM Janggoulen Haokip remanded Sanasam Jacky in judicial till February 13 .