The Enforcement Directorate (ED) said on Wednesday that it carried out two search operations under the provisions of Prevention of Money Laundering Act (PMLA) in Arunachal Pradesh in connection with its probe relating to the Trans-Arunachal Highway (TAH) project and freezed bank accounts and FDs having a balance of Rs 3.95 crore.
The ED initiated the money laundering investigation on the basis of an FIR registered by the Special Investigation Cell (Vigilance), Itanagar, under the various sections of Indian Penal Code and Prevention of Corruption. Act.
The FIR revealed that some government officials in connivance with some private individuals misappropriated compensation funds meant for persons affected by the Trans-Arunachal Highway project.
Investigation by the ED revealed that multiple fake beneficiaries were created by some government officials in connivance with private individuals to cause wrongful gain to themselves and wrongful loss to the government exchequer.
The investigation also established that part of the proceeds of crime were routed through several bank accounts and FDs.
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