ED attaches assets worth Rs 58 crore of Mumbai firm
The ED provisionally attached 10 immovable properties and gold jewellery, diamonds worth Rs 58.16 crore under PMLA in the Rajeshwar Exports case.india Updated: Dec 19, 2017 23:10 IST
The Enforcement Directorate (ED) has attached assets worth Rs 58 crore of a Mumbai-based firm in connection with a money laundering probe launched after demonetisation in November last year.
“ED provisionally attached 10 immovable properties and gold jewellery/diamonds worth Rs 58.16 crore under PMLA in Rajeshwar Exports case. These properties/gold jewellery /diamonds belong to Ritesh Jain and Amritlal Jain,” it said.
The case involves funds worth Rs 1,478 crore and more than 500 alleged shell company accounts.
The case emerged after the ED booked Ritesh, a Mumbai-based diamond trader, for “opening bank accounts in the name of dummy companies for affecting illegal transactions” post demonetisation and subsequently indulging in alleged illegal import of diamonds using a maze of bank accounts and layering.