Daijiworld Media Network - New Delhi
New Delhi, Oct 16: The Directorate of Enforcement (ED) has provisionally attached assets and proceeds of crime worth Rs 136.44 crore under the Prevention of Money Laundering Act (PMLA) in connection with its ongoing investigation into alleged large-scale illegal coal mining and pilferage in the leasehold areas of Eastern Coalfields Limited (ECL).
According to an official statement issued on Friday, the alleged illegal activities were carried out by a syndicate led by Anup Majee, alias Lala.
The ED said its investigation revealed that the syndicate was allegedly involved in illegal excavation and large-scale pilferage of coal, which was subsequently sold for cash to various factories in West Bengal, purportedly with the assistance of local administration officials.
To conceal and layer the proceeds generated through the alleged illegal activities, the syndicate allegedly acquired and operated several shell companies, also referred to as jamakharchi companies, the agency said.
These companies were allegedly beneficially owned and controlled by Majee but registered in the names of his relatives, employees and key associate Gurupada Majee.
The ED alleged that cash generated from the illegal sale of coal was routed through these entities using accommodation entries and deposited into their bank accounts to conceal the origin and ownership of the funds.
The investigation also revealed that proceeds of crime were invested in resorts beneficially owned by Anup Majee, according to the agency.
The latest Provisional Attachment Order covers two hotel-cum-resorts — Garh Panchakot Eco Tourism in Purulia and Biharinath Eco Tourism in Bankura — along with two properties in Kolkata, balances in the bank accounts of the alleged shell companies, and shares and mutual fund investments held by members of the Majee family.
The ED had earlier attached proceeds of crime worth Rs 678.64 crore in the same case. With the latest attachment of Rs 136.44 crore, the total value of assets attached in the case has risen to Rs 815.08 crore.
The agency said its investigation was continuing to uncover the various layers of the alleged money-laundering network, trace the ultimate beneficiaries of the proceeds of crime and identify other individuals and entities suspected of laundering funds generated through illegal coal mining and pilferage.
Further investigation is underway.