ED attaches property of Yadav Singh

New Delhi, July.05: Enforcement Directorate has attached properties worth Rs 89 Lakhs belonging to Yadav Singh and family including one Residential, one Commercial property and one agricultural land and bank balances under the provision of Prevention of Money Laundering Act. It is pertinent to mention here that the enquiries in this case under PMLA, 2002 got initiated on the basis of an F.I.R. registered against Yadav Singh, the then Chief Engineer and his associates by CBI in 2015.

CBI has filed chargesheet against the Yadav Singh and his family members revealing the accumulation of disproportionate assets to the tune of Rs 23,15,41,514/-, which was 512.66% against an income of Rs. 4,51,64,232/-, during the period i.e from 01.04.2004 to 04.08.2015. It is revealed that funds related to income from illegal earning/unexplained sources were routed to the trust under control of Yadav Singh in guise of corpus donations.

The same fund was routed to the bank accounts of his family member in guise of sale proceeds of properties and the same was used for purchasing further commercial/residential properties at Delhi and Noida and maintaining bank balances to the tune of Rs 89 Lakhs. It is also revealed that the funds were also routed to companies under his control in form of commission, income etc. Same has been attached under the present provisional order. It is pertinent to mention here that Properties worth Rs 20.5 Crores pertaining to Yadav Singh, his family members and companies/trusts under their control were also attached under PMLA on earlier occasions in 2017 and 2018.

So far Enforcement Directorate, Lucknow has attached properties worth Rs 21.5 Crores in this case and has already filed chargesheet against Yadav Singh and others under Prevention of Money Laundering Act, 2002. He working in New Okhala Industrial Development Authority as chief engineer.