Directorate for recovery on Wednesday announced that it has a temporarily attached assets in value over more £50 Lakh belonging to former officer EPFO Shyamlal Akhand and his family. The event was adopted on the basis of legislation against money laundering in connection with the case concerning alleged bribery and accumulation of disproportionate assets.
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According to the agency’s statement, the interim order was issued on Tuesday under the Money Wash Act (PMLA).
Ed claimed that during his time as a coercive officer with the organization of the Provisional Funds (EPFO) Akhand “abused” his official position between 2009 and 2019 to “illitely accumulate wealth” far beyond its legitimate revenue sources.
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The investigation found out that he was dealing with “corrupt” practices, including demanding and receiving “bribes”, and used “criminal proceeds” to obtain real estate in his name and his wife and son, it said.
According to Ed Akhand, he explained that his salary income, rental earnings, agricultural income and income from the embroidery of his wife were a source of funds.
“Failed to”, however, to submit any documentary evidence that would justify the existence or earnings of the alleged business activities of their wife, the probe agency said.
Ed also found “significant” cash deposits on more family bank accounts Akhand.
The attached properties include agricultural land in the village of Nalwa in Ujjain district, which took place together in the name of his wife and son and a residential land in Emerald City in the village of Jakhya in the Indore district, which was registered on behalf of Akhand, she said.
According to ED, the value of these assets is £50,80 lakh.
The case for washing money against the officer comes from two firs of the CBI against Akhand – one for accepting a bribe and the other for possession of assets disproportionate to his known sources of income.
(With inputs from the press agency PTI)
(Tagstotranslate) Directorate for Pravo enforcement (T) Shyamlal Akhand
