Mumbai, Sep 14 (IANS): The ED attached 13 immovable and movable properties, including flat, plot, fixed deposit and bank balance worth Rs 13.44 crore, in Mumbai, Goa and Madhya Pradesh in connection with a financial fraud linked to functionaries and CA of United Services Club, an official said on Monday.
The action was taken by the Enforcement Directorate (ED), Mumbai Zonal Office, under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) against assets belonging to Bernadette Bharat Varma, Bharatkumar Shankarlal Varma and others, said an ED statement.
The investigation by the federal agency was initiated on the basis of an FIR registered by Mumbai Police under various sections of Bharatiya Nyaya Sanhita (BNS), 2023, in the matter.
The ED Investigation revealed that Bernadette Varma, being Deputy Secretary (Finance) of United Services Club, in connivance with her husband Bharatkumar Shankarlal Varma, opened/got opened various fake/dummy bank accounts in the name similar to the original/regular vendors of the Club and transferred around Rs 77 crore into such accounts.
These funds, representing Proceeds of Crime, were further diverted to the personal/joint bank accounts of Bernadette Varma, Bharat Varma and their family members and associates, the ED said.
Investigation by the ED also revealed that Bernadette Varma and her husband utilised the Proceeds of Crime in acquiring several immovable properties and also invested a part of the same in fixed deposits with various banks.
The ED said Proceeds of Crime to the tune of Rs 11 crore were transferred to the bank account of Jyotirgamay Foundation (Trust), from where funds were subsequently diverted to the bank accounts relating to Chandra Prakash Pandey, his family members and firms controlled by Chandra Prakash Pandey (who was a Chartered Accountant relating to US Club), including related persons.
Earlier, 35 properties amounting to Rs 34.51 crore were attached on March 20 in the case, the statement said.
