In connection with the PFI investigation, ED seized assets worth Rs. 2.53 crore
The Enforcement Directorate (ED) has recently seized immovable properties worth Rs 2.53 crore in the Popular Front of India (PFI) and other cases. The attached properties include four unsold villas and 6.75 acres of vacant land from the Munnar Villa Vista Project.
The investigation by the Enforcement Directorate was initiated based on an FIR and charge sheet filed by the National Investigation Agency (NIA), Kochi, before the Special Court for Trial of NIA Cases in Ernakulam, Kerala. The FIR and charge sheet accused a group of PFI/SDPI activists of conspiring to provide training in explosives and weapons and organizing a terrorist camp in Kannur district.
The Enforcement Directorate probe revealed that PFI leaders and members associated with overseas entities were using the Munnar Villa Vista Project to launder money collected from foreign countries and within India to finance PFI’s radical activities. The project was developed through a company named Munnar Villa Vista Pvt. Ltd. (MVVPL).
The investigation further uncovered the infusion of unaccounted cash into the project, cash subscriptions of MVVPL shares in the names of ghost shareholders, transfers of MVVPL shares without consideration, and bogus transfers to other companies without any genuine transactions. The seized assets of the crime amounting to Rs. 21.9 crore were identified during the investigation.
A Prosecution Complaint was filed before the Special Court of PMLA cases in Lucknow on May 6, and the trial is currently underway. The Enforcement Directorate’s actions are part of their efforts to curb money laundering activities and address the misuse of funds for illegal purposes by PFI and its related entities.