ED attaches assets worth Rs 7.73 cr of Goa-based firm in foreign nationals duping case
May 16, 2020
New Delhi [India], May 16 : The Enforcement Directorate (ED) has attached assets worth Rs 7.73 crore of a Goa-based firm - including 56 flats and 16 villas in Goa along with bank balance - under the Prevention of Money Laundering Act, 2002 (PMLA), in a case relating to cheating of foreign nationals.
The attached assets are held in the names of Sanatan Financers and Real Estates Pvt Ltd.
According to the economic offences watchdog, the accused persons -- Ankit Kumar and Sunil Kumar -- illegally collected funds from foreign nationals in the guise of selling properties under a project named as 'Peace Valley' situated at Sirvoi, Deumol, Quepem, Goa.
The ED had initiated investigation under the provisions of PMLA on the basis of FIRs registered by Goa Police under several relevant Sections of the Indian Penal Code (IPC) against Sanatan Financers and Real Estates Pvt Ltd, Ankit Kumar and Sunil Kumar.
"During the course of investigation under PMLA, it is revealed that accused Ankit Kumar and Sunil Kumar had collected money from foreign nationals through Foreign Direct Investment (FDI) route in the accounts of their various shell companies including Sanatan Financers and Real Estates Pvt Ltd," ED said in a statement on Saturday.
"These foreign nationals were induced to invest in the companies formed by the accused persons towards purchase of flats and villas situated in their project named 'Peace Valley' at Quepem, Goa," it added.
However, the the ownership of said properties was never transferred to the foreign nationals.
In this manner during the period from 2006 to 2011 the accused had received Rs 7.73 crore by duping the foreign nationals and acquired 16 villas worth Rs 2.56 crores and 56 flats in Goa worth Rs 5.17 crore, ED said.
