India News | ED Attaches Assets of Former Kerala Minister in Money Laundering Case
Get latest articles and stories on India at LatestLY. The Enforcement Directorate on Wednesday said it has attached an immovable property worth more than Rs 25 lakh of former Kerala fisheries and ports minister K Babu in connection with a money laundering case against him.
New Delhi, Jan 31 (PTI) The Enforcement Directorate on Wednesday said it has attached an immovable property worth more than Rs 25 lakh of former Kerala fisheries and ports minister K Babu in connection with a money laundering case against him.
A provisional order for attaching the assets was issued on January 25 under the Prevention of Money Laundering Act (PMLA), the federal agency said in a statement.
The investigation in the case is linked to the possession of alleged disproportionate assets.
The ED case stems from an August 2018 FIR of the Kerala Vigilance and Anti-Corruption Bureau (VACB) filed in Ernakulam district.
The agency said Babu, being a public servant from July 1, 2007 to May 31, 2016, acquired assets worth Rs 25.82 lakh which were "disproportionate" to his known sources of income.
This is an offence under various sections of the Prevention of Corruption Act, it said.
Babu "derived/ obtained" the proceeds of crime in the form of movable and immovable properties to the tune of Rs 25.82 lakh, the ED said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)