NEW DELHI, July 9 -- Directorate of Enforcement (ED) has conducted searches at 11 different places in Uttar Pradesh in connection with the disproportionate assets and money laundering case involving former Garautha MLA Deep Narayan Singh Yadav and his associates.
The searches by the ED's Allahabad Sub-Zonal Office commenced on Wednesday, under the Prevention of Money Laundering Act (PMLA), 2002, at Jhansi, Lucknow and other places in the state.
The case is linked to the First Information Report (FIR) registered by the Uttar Pradesh Vigilance Establishment. It alleged that Yadav had acquired assets worth Rs 23.02 crore, which were disproportionate to his known sources of income, during the relevant time frame. "Yadav is also accused of having more than 60 criminal cases registered against him in the districts of Jhansi and other parts of Uttar Pradesh. These cases pertain to crimes like dacoity, attempt to murder, extortion, attempt to commit culpable homicide, criminal breach of trust, cheating, and forgery under the Indian Penal Code. Some of these are cognizable offenses under PMLA," the ED said.
The ED alleged that Yadav had generated substantial proceeds of crime through the commission of crimes and by misusing his position as a Member of the Legislative Assembly. It added that he has created multiple companies, including shell companies to cover up the illegal gains. Through a network of companies, Yadav's proceeds were integrated to show them as business proceeds through layers of trading. It also alleged that Yadav has purchased movable and immovable properties by utilizing proceeds of crime in the names of his associates and distant relatives.
Published by HT Digital Content Services with permission from Millennium Post.