ED seizes 79 illegal assets of PPGD Sankar under PMLA
Feb 18, 2022
New Delhi [India], February 18 : The Enforcement Directorate (ED) has attached 79 immovable assets worth Rs 25 crore belonging to PPGD Sankar against whom 15 FIRs and three Charge sheets have already been filed by the Tamil Nadu Police related to murder, extortions robbery, dacoity and criminal conspiracy, the agency said on Friday.
These immovable assets are located in the suburbs of Chennai.
The ED attached these properties under the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated the investigation under PMLA, 2002 on the basis of an FIR registered by Tamil Nadu Police.
During the course of the search, the ED said various incriminating property documents were found and seized.
"Various statements of the accused and his associates were recorded during the course of further investigation," the federal agency said.
The ED unearthed various "benami properties" of PPGD Sankar which were purchased by him out of cash generated from extorting various people over a period of time.
"He could not explain any legal source of cash payments for acquiring the property and confessed during the course of the investigation that much money, which was used by him to acquire such 79 properties, was not generated from any legal business but by extortion of various people over the period of time," the ED said.
The accused has adopted a unique modal of projecting the proceeds of crime as untainted property, by registering the properties by way of General Power of Attorney in his name and keeping the ownership in his "benami" names in the official documents, said the ED.
"The GPA was used as an alternative to Sale Deeds. He had made the payment for such assets but did not register the same in his name to safeguard himself as there are many cases registered against him," said the agency.
