The Enforcement Directorate (ED) has frozen bank accounts, recurring deposits and fixed deposits having a balance of Rs 3.95 crore in the Trans Arunachal Highway Project case, the agency said on Wednesday.
The about 2,396 km long road project aims to connect 16 districts of the state running from Tawang in western Arunachal to Kanubari in Longding district in the south-eastern part of the state.
The federal agency’s move followed two search operations conducted on Tuesday in Arunachal Pradesh under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in respect of an investigation relating to the Trans Arunachal Highway Project.
ED initiated a money laundering investigation on the basis of an FIR dated February 2, 2019, registered by Special Investigation Cell (vigilance) Itanagar, Arunachal Pradesh under various sections of the Indian Penal Code (IPC), 1860, and section 13(1)(a) and 13(2) of Prevention of Corruption Act, 1988.
The FIR revealed that some government officials in conspiracy with some private individuals misappropriated the funds of compensation for the affected persons and beneficiaries of the Trans Arunachal Highway Project.
The Investigation by ED has revealed that multiple fake beneficiaries were created by some government officials in connivance with private individuals to cause wrongful gain to themselves and wrongful loss to the government exchequer.
The Investigation has further established that part of the Proceeds of Crime so generated by the accused persons were routed through several banks’ accounts and Fixed Deposits, said the ED.
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