Man convicted of money laundering
LUCKNOW, Sept. 16 -- A special court in Lucknow convicted a man for money laundering and sentenced him to three years and six months of rigorous imprisonment along with a fine of Rs 20,000 in a case related to fraudulent encashment of over two dozen LIC cheques, Enforcement Directorate (ED) officials stated in a release on Tuesday.
They said the court held Sameer Joshi guilty under sections of the Prevention of Money Laundering Act (PMLA).
The money laundering case stems from a CBI FIR filed against Joshi and some others. The accused were charged by the CBI with fraudulent preparation and encashment of 29 fake LIC cheques worth Rs 54,23,775.
The Special Court, PMLA, convicted Joshi under Section 3 read with Section 4 of the Prevention of Money Laundering Act (PMLA), 2002, through its judgment on Tuesday....
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