Panaji, Oct 3 (IANS) The Directorate of Enforcement’s (ED) Panaji Zonal Office has arrested Shivshankar Mayekar under provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a massive land scam case involving prime properties in Goa, an official statement said on Friday.

Mayekar was taken into custody on October 1 and produced before the Special Court (PMLA) in Mapusa on October 2. The court granted the ED nine days’ custody till October 10.

The ED probe stems from an FIR lodged by the Goa Police against Yeshwant Sawant and others under various sections of the Indian Penal Code on allegations of fraud committed against the Communidade of Anjuna, where the accused purportedly used forged documents to mutate prime land located at Survey No. 496/1-A, Anjuna, into their names.

Subsequently, portions of this land were sold to third parties, generating significant proceeds of crime (POC) that became the focus of the money laundering investigation.

ED Investigations revealed that Mayekar was a central figure in the fraud. He allegedly acquired multiple parcels of land across Goa illegally in the names of friends and relatives, and sold portions of these properties to individuals, routing the sale proceeds through proxy accounts.

He then diverted the funds back into his own accounts, layering and integrating the illicit gains.

Earlier, on September 9, the ED carried out extensive search operations and unearthed documentary evidence of land parcels acquired in the names of associates and relatives of Mayekar.

According to the ED, these spanned several lakh square metres in prime tourist hubs such as Anjuna and Assagao in Bardez taluka.

The agency estimates that the market value of the properties illegally grabbed exceeds Rs 1,200 crore, making it one of the largest land scams unearthed in Goa in recent years.

The ED has described Mayekar as one of the key conspirators and a beneficiary of the proceeds of crime.

His custodial interrogation is expected to shed more light on the network of ‘benami’ transactions, possible involvement of other facilitators, and the trail of laundered money.

–IANS

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