ED attaches assets worth Rs 39.28 crore in money laundering case
New Delhi (IANS) | The Enforcement Directorate (ED) on Wednesday said it has attached movable and immovable assets worth Rs 39.28 crore belonging to one Virendra Kumar Ram and his family members in a money laundering case. The properties include a farmhouse, flat, duplex bungalow, land in Delhi, Jamshedpur and Ranchi and three bank accounts with a collective balance of around Rs 36 lakh.
The ED had launched the money-laundering probe on the basis of an FIR registered by the Anti-Corruption Bureau, Jamshedpur.
An ED official said, “The investigation has revealed that Virender Kumar Ram, as Chief Engineer in the Rural Works Department in Ranchi, earned proceeds of crime in the name of commission in lieu of allotment of tenders to contractors. Thus The proceeds of crime generated were used by Virendra. Ram and his family members lead a very luxurious lifestyle.”
Earlier, searches were conducted at 30 premises linked to Virender Kumar Ram in different cities, in which various incriminating evidence were found and seized, the official said.
Cash worth Rs 40 lakh, seven high-end luxury vehicles and jewelery worth Rs 1.51 crore were seized during the search operation, which were later found to be part of the proceeds of crime earned by the accused.
Virendra Kumar Ram was arrested by the ED on February 23 after he was found guilty of money-laundering. He is currently lodged in Ranchi’s Hotwar Jail.
Virendra Kumar Ram’s cousin Alok Ranjan was also arrested on 11 April after he was found guilty of assisting Virendra Kumar Ram in laundering the proceeds of crime.
–IANS
