Chennai, May 27 (BPNS)
The DMK government in Tamil Nadu is in a spot after the Enforcement Directorate on Saturday revealed that it has attached properties of Udayanidhi foundation named after Tamil Nadu minister and son of Chief Minister, M.K. Stalin, Udayanidhi Stalin.
The Enforcement Directorate has attached an amount of Rs 37.5 lakhs in the bank account of Udayanidhi foundation. The premier investigating agency has also provisionally attached properties worth Rs 36.3 crore on May 25th of various persons related to the case. The agency has revealed this in a press statement on Saturday.
The ED in a statement on Saturday said that it has commenced investigation based on an FIR registered by Central Crime Branch, Chennai under various sections of the IPC against the Kallal group. This was following a complaint from a subsidiary of UK based Lyca group.
The Enforcement Directorate in the statement also said that in its investigation it has found that the fraud was to the tune of Rs 300 crore as Lyca group had made investments and loans to the Kallal group.
The agency, according to its statement has also found several digital transactions and several suspicious hawala cash transactions and has provisionally attached 36.3 crore worth properties. It has also attached Rs 34.7 lakh available in the bank account of Udayanidhi Foundation.
The ED in a press statement on Saturday said that the foundation has received Rs 1 crore which is the proceeds of the crime but its trustees were not able to explain how such a huge amount was transferred into its account.
It may be noted that the ED had conducted raids on the premises of Lyca group in Chennai a few days ago.
Share this: