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ED files prosecution complaint against CPI (Maoist) leader Binay Yadav in money laundering case

ANI | Updated: Feb 06, 2019 21:31 IST

New Delhi [India], Feb 6 (ANI): The Enforcement Directorate (ED) on Wednesday filed a prosecution complaint under the Prevention of Money Laundering Act, 2002 (PMLA) against CPI (Maoist) leader Binay Yadav and others in connection with a money laundering scam.
The ED initiated an investigation under the provisions of PMLA on the basis of 46 FIRs and six charge sheets filed by Bihar Police against Binay for his alleged criminal activities and extortion in Gaya and Aurangabad districts of the state.
Investigation under PMLA revealed that cash to the tune of Rs 1.50 crore was deposited in various bank accounts of the accused and his family members. It was also revealed that Yadav transferred proceeds of crime to the other accused persons.
The investigation also revealed that around Rs 40,00,000 worth of cash had been deposited in the bank accounts of his son-in-law and his family, who, in turn, made huge cash deposits in different bank accounts.
It was also revealed that Yadav's kin filed false Income Tax returns to conceal the proceeds of crime and to project the tainted money as untainted.
Investigations further revealed that Binay's wife Srimati Devi had invested proceeds of crime for the purchase of immovable properties and had deliberately suppressed the value of such properties in sale deeds to conceal the proceeds of crime.
Assets held in the name of family members of Binay consisting of six plots, six vehicles and balance in bank accounts worth Rs 77 lakh have been attached under Section 5 of the PMLA. (ANI)