New Delhi, Aug 3 (IANS): The Enforcement Directorate (ED) on Wednesday said that a Special PMLA court in Andhra Pradesh's Visakhapatnam has taken cognisance of the charge sheet filed against a LIC official in a Prevention of Money Laundering case.

The ED initiated a money laundering investigation on the basis of the FIR registered by the CBI, Visakhapatnam against LIC official Dharavath Sakru and others for criminal conspiracy, criminal breach of trust by public servant, cheating, forgery, using forged documents as genuine, and criminal misconduct.

Sakru illegally siphoned off funds of LIC by using demand drafts in the names of his acquaintances and illegally transferred the LIC funds to their accounts, making wrongful gain to themselves and corresponding wrongful loss to LIC to the tune of Rs 1.77 crore.

Presently lodged in Central Prison, Visakhapatnam, he was recently sentenced to five years rigorous imprisonment by a special CBI court. The trial under the PMLA is in progress now.