Money laundering case involving scheduled offence and proceeds ...

Property linked to crime proceeds seized despite Trust's lack of knowledge.

Case Laws Money Laundering

October 10, 2024

Money laundering case involving scheduled offence and proceeds of crime. Trust property attached under PMLA despite Trust being bona fide receiver without knowledge of alleged offence. Key points: Government need not be made party as title remains with them despite lease. Attachment order valid as ingredients u/s 5(1) PMLA satisfied with reason to believe property involved in money laundering. Prosecution complaint filed within time limit. Trust not named in FIR/ECIR but property derived from proceeds of crime by accused infused into Trust. Sufficient nexus established between attached property and criminal activity. Adjudicating Authority followed statutory requirements u/ss 8(1) and 8(2) PMLA. No illegality in impugned order, appeal dismissed.

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Money laundering case involving scheduled offence and proceeds ...

Property linked to crime proceeds seized despite Trust's lack of knowledge.

Case Laws Money Laundering

October 10, 2024

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