Man gets 5-year jail in Bihar's first PMLA conviction
11-October-2018
A special court here on Thursday sentenced a man to five-year imprisonment, including rigorous imprisonment for one year, in a money laundering case, said to be first such conviction in the state.
An Enforcement Directorate statement said that Mohammad Naushad was also ordered to pay a fine of Rs five lakh, while his attached assets have been confiscated.
Bihar Police had registered a case against Naushad in November 2009 for trading in illegal arms. Fake Indian Currency Notes with a face value of Rs 1.4 lakh were seized from his residence. The ED initiated a PMLA case against him in 2013.
The ED investigation revealed that Naushad earned his ill-gotten money through crime and utilised it to acquire immovable property, a house valued at Rs 22.56 lakh, in Munger district in his own name during 2009-2010.
In 2016, the ED provisionally attached Naushad's property and charge-sheeted him in the Prevention of Money Laundering Act case.
-IANS
- 0
-
-
-
-
Bullet Train Project Advances; Ahmedabad Station Almost Ready
Gautam Adani Hails India’s Historic Women’s World Cup Triumph
Properties Worth Rs 3,084 Crore Of Reliance ADA Group Provisionally Seized By ED
Nine Devotees Killed In Stampede At Andhra’s Venkateswara Swamy Temple
Yogi Adityanath Urges Students To Read Books, Not Scroll Reels
