Bhola assets frozen; ICE gains melt away
Plush houses, costly cars, and a lavish lifestyle, Jagdish Bhola has seen his overnight riches from drug trade disappear in days. After forfeiting ill-gotten property worth Rs 45 crore, the former Punjab Police officer is back to rags.Updated: Feb 03, 2014 20:25 IST
Plush houses, costly cars, and a lavish lifestyle, Jagdish Bhola has seen his overnight riches from drug trade disappear in days.
After forfeiting ill-gotten property worth Rs 45 crore, the former Punjab Police officer is back to rags. "Of his Rs 70-crore possessions marked, so far, the remaining are outside Punjab," senior superintendent of police (SSP) Hardial Singh Mann has confirmed.
The Narcotic Drugs and Psychotropic Substances (NDPS) Act permits the state to confiscate drug money and freeze those assets. All accused in the racket will lose their entire property, and the process has begun for Akali leader Maninder Singh Bittu Aulukh, co-accused Jagjit Singh Chahal, "Bhola's expatriate boss" Devinder Singh Dev, and others.
"Police want to give (the accused) a firm message that the property and money you amassed through drug trade you could be forced to forfeit anytime," said the SSP, confirming that if the court held Bhola guilty, all these assets would go to the government. Till then, no one can sell any of these holdings.
The court of Ajaib Singh, additional district and sessions judge at Fatehgarh Sahib, has framed charges against Jagdish Bhola in a drug-smuggling case after police presented evidence papers of recoveries. A trial will now decide Bhola's fate. The next hearing is on February 22.
Rs 5-crore house in Phase-10, SAS Nagar
Rs 20-crore agricultural land in Bathinda, SAS Nagar, Zirakpur
Residential and commercial buildings bought under different names
Two luxury cars (a BMW and Mercedes) and some SUVs (sports utility vehicles) that belong to the gang
(Most assets made in the past six years of Bhola's making money in the international smuggling of synthetic drug ICE, market name for chemical crystal m-amphetamine).