Disproportionate assets: ED arrests retired IAS officer in PMLA case
May 20, 2023
New Delhi [India], May 20 : The Enforcement Directorate (ED) has arrested a retired IAS officer Ram Bilas Yadav, the then Additional Secretary to the Uttarakhand Government, in connection with the ongoing investigation under the Prevention of Money Laundering Act, an official said on Saturday.
The ED initiated an investigation based on an FIR registered by the Vigilance Department of Dehradun against Yadav under the Prevention of Corruption Act, for possessing assets disproportionate to known sources of income.
"During the period between January 1, 2013, and December 31, 2016, Yadav earned Rs 78,51,777 through his known sources of income whereas his expenses were around Rs 21.40 crore. Therefore, he has been accused of amassing disproportionate assets (DA) to the tune of Rs 20.61 crore which is 26 per cent more than his known sources of legal income," the agency official said.
The ED said that the accused had purchased many lands, a flat, constructed house in Lucknow, a school, and a trust in his name and family members by utilising the fund earned through illegal means and misusing his own position as a government servant in UP and Uttarakhand.
Yadav served in the Uttar Pradesh government four years ago before returning to Uttarakhand in 2019.
Further investigation into the matter is underway.
