(Image source from: ED’s excellent investigation})

The enforcement directorate (ED) got a big boost after issuing an order for the attachment of 1280 acres of land in California, USA of Zoom Developers Pvt Ltd (ZDPL) in connection with a money laundering case. Vijay Choudhary, owner of Zoom Developers Pvt Ltd (ZDPL), has directly and knowingly involved in the transferring of the amounts received as mobilization advances to the account of SBBJ for purchase of the property.

Read ED attaches Rs 1,000 cr foreign assets

The tracking of the ED is as follows:

1. The accused have knowingly formed various trusts and beneficiary companies and projected them as independent entities by concealing the relationship between the trust and the foreign companies, which were termed as Aggregators

2. The accused have directly and knowingly involved in the transferring of the amounts that are received as mobilization advances to the account of SBBJ for purchase of the property.

3. The accused has actually involved in the process or activity connected with the proceeds of crime and concealed the fact of acquisition of the properties from out of the proceeds of crime.

4. The accused are parties in acquiring the subject properties from out of the proceeds of Crime (PoC) and such properties (proceeds of crime) are still in their possession.

5. The property in the USA was purchased from out of the mobilization advance, (which was claimed to be received for other purposes) i.e., proceeds of crime.

The excellent homework has made it possible for the enforcement directorate to attach the property outside the country in relation to a crime in the country.

By Premji