The case involves a challenge to the attachment of properties ...

Challenge to property attachment in case. Adjudicator equates property value to proceeds. Definition clarified in related case. Appellant's failure to disclose source led to dismissal.

Case Laws Money Laundering

August 13, 2024

The case involves a challenge to the attachment of properties alleged to be proceeds of crime. The Adjudicating Authority found that some properties were of equivalent value to the proceeds. The judgment in a related case clarified the definition of "proceeds of crime," including properties of equivalent value. The appellant failed to disclose the property's source and provided vague statements about acquisition. The Adjudicating Authority considered the appellant's income tax return, showing low income. The appeal was dismissed by the Appellate Tribunal due to lack of merit in the grounds raised.

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The case involves a challenge to the attachment of properties ...

Challenge to property attachment in case. Adjudicator equates property value to proceeds. Definition clarified in related case. Appellant's failure to disclose source led to dismissal.

Case Laws Money Laundering

August 13, 2024

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