PANAJI
The Enforcement Directorate (ED), Panaji Zonal Office, has provisionally attached properties worth Rs 2.86 crore in South Goa under the Prevention of Money Laundering Act, 2002, in connection with a bank fraud case. The attached assets include 22 plots in Dharbandora belonging to partner Riyaz Shaikh, and two plots in Cuncolim along with a row villa in Fatorda belonging to managing partner Aditya Angle.
According to the ED, the action follows an FIR and chargesheet filed by the CBI-Anti-Corruption Bureau (Goa) against M/s Crown Minerals Trading Corporation (CMTC) and its partners. Investigations revealed that CMTC partners obtained an Open Cash Credit facility of Rs 7 crore from Canara Bank on the false claim of trading in raw iron ore.
The ED said the accused dishonestly offered properties already mortgaged with other banks as collateral, siphoned off the sanctioned loan, and diverted it into personal and proprietary accounts through fake transactions. The funds were allegedly used for personal gain and to acquire immovable properties.
