The AT upheld the attachment of properties acquired prior to the ...

Upholding Property Attachment Despite Pre-Crime Acquisition, Layering Linked Assets to Proceeds.

January 3, 2025

Case Laws Money Laundering AT

The AT upheld the attachment of properties acquired prior to the commission of the alleged crime. The proceeds of crime were siphoned off by diverting and layering, thus the property of equivalent value was attached under the second limb of the definition of "proceeds of crime." The provisional attachment order did not lapse due to the intervening Covid-19 period eliminated by the Apex Court. The properties were linked to the proceeds of crime through financial transactions and layering. The scheduled offence was valid as the relevant date was when the tainted property was projected as untainted in 2012, leading to the recording of the money laundering offence. The appeals were dismissed.

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The AT upheld the attachment of properties acquired prior to the ...

Upholding Property Attachment Despite Pre-Crime Acquisition, Layering Linked Assets to Proceeds.

January 3, 2025

Case Laws Money Laundering AT

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