ED, Bhopal Zonal Office, has provisionally attached immovable properties worth Rs. 11.81 Crore belonging to Jagdish Prasad Sarwate, former Deputy Director, Adim Jati Kalyan Vibhag, Jabalpur, Madhya Pradesh, under PMLA, 2002 in a matter related to disproportionate assets case.
Directorate of Enforcement (ED), Bhopal Zonal Office, has provisionally attached immovable properties worth Rs. 11.81 Crore belonging to Jagdish Prasad Sarwate, former Deputy Director, Adim Jati Kalyan Vibhag, Jabalpur, Madhya Pradesh, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
ED initiated investigation on the basis of FIR registered by the Economic Offences Wing (EOW), Jabalpur under Sections 13(1)(b) read with 13(2) of the Prevention of Corruption Act, 1988 (as amended), for amassing assets disproportionate to known sources of income.
Based on the said predicate offence, ED initiated investigation under the PMLA. ED investigation revealed that Jagdish Prasad had acquired various immovable properties during the check period through ill-gotten money earned by him while working in Adim Jati Kalyan Vibhag, Jabalpur, Madhya Pradesh. These include residential properties, agricultural lands and commercial land, Restaurant situated in Bhopal, Mandla, Umaria and Seoni districts of Madhya Pradesh. Several properties were acquired through substantial cash payments, while others were financed through loans repaid using unexplained cash deposits.
The investigation prima facie established that the Sarwate generated Proceeds of Crime by abusing his official position and subsequently laundered the same by way of placement, layering and integration into immovable properties, thereby projecting the tainted funds as untainted assets.
Accordingly, ED has provisionally attached the 09 immovable properties of worth of Rs.
11.81 Crore under Section 5(1) of the PMLA, 2002 to prevent their transfer or disposal and to secure confiscation proceedings.
Further investigation under PMLA is in progress.