The Enforcement Directorate (ED) has provisionally attached the assets of a former project director of the Manipur Development Society (MDS) under the anti-money laundering law in a case linked to alleged embezzlement of government funds, the federal agency said in a statement on Monday.
Six immovable properties worth ₹3.04 crore and ₹8.20 lakh kept in bank accounts belonging to former project director, Y Ningthem Singh and his associates have been attached, the agency said.
The money laundering case stemmed from a September 2017 first information report (FIR) filed by the Imphal West police under various sections of the Indian Penal Code (IPC) and Section 13(2) of the Prevention of Corruption Act against MDS officials and others in an allegation of “misappropriation” of MDS funds to the tune of over ₹169 crore.
Huge amount of funds was embezzled and misappropriated from MDS account by Y Ningthem Singh in criminal connivance with his associates and these diverted funds were transferred and laundered into various shell firm accounts and other individual/associates’ accounts, ED alleged.
“Y Ningthem Singh and his accomplices acquired several properties at different locations,” the agency said.
In November last year, ED had frozen 11 bank accounts of other accused with a balance amount of ₹41,53,489 as part of this investigation, the agency said.
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