Mumbai, May 18 (IANS) The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached immovable properties worth around Rs 700.27 crore under the provisions of the Fugitive Economic Offenders Act (FEOA), 2018 in connection with a money laundering case linked to late Iqbal Mirchi and his family members.

According to the ED, the attached assets include three prime properties — Rabia Mansion, Marium Lodge and Sea View — located in Mumbai’s Worli area and collectively valued at around Rs 497 crore. The agency has also attached overseas properties in Dubai worth approximately Rs 203.27 crore.

The ED said that the investigation was initiated on the basis of multiple FIRs registered by Mumbai Police, including cases at M.R.A. Marg Police Station and Yellow gate Police Station, along with cases registered by Byculla Police Station, Anti-Narcotics Cell and DCB CID, Mumbai Police against late Iqbal Mirchi under various provisions of the IPC, Arms Act, TADA and NDPS Act.

The probe conducted under the Prevention of Money Laundering Act (PMLA) allegedly revealed that Iqbal Mirchi was involved in organised criminal activities including drug trafficking, extortion, illegal arms activities and other offences. The agency claimed that substantial proceeds of crime generated through these activities were laundered through acquisition of properties in India and abroad in the names of family members, associates and entities allegedly controlled by him.

According to the ED, investigations revealed that the Worli properties belonging to Sir Mohammad Yusuf Trust were purchased in 1986 through M/s Rockside Enterprises for Rs 6.50 lakh. Though the properties continued to remain in the name of the Trust on paper, the actual ownership and control allegedly remained with Iqbal Mirchi and his family members.

The ED further alleged that the Trust, in conspiracy with Iqbal Mirchi, misrepresented facts before the court and concealed material information to secure release of the properties from earlier attachment proceedings.

The agency also stated that proceeds of crime were allegedly used for acquisition of overseas assets, including Hotel Midwest Apartment in Dubai and 14 real estate units situated at Corporate Bay and DEC Towers in Dubai in the names of Asif Iqbal Memon and his family members.

The ED has already filed a prosecution complaint and supplementary prosecution complaint before the Special Court (PMLA), Mumbai against Asif Iqbal Memon, Junaid Iqbal Memon, Hajra Iqbal Memon and others in connection with the alleged offence of money laundering.

The agency said that the Special Court, through an order dated February 26, 2021, had declared Asif Iqbal Memon, Junaid Iqbal Memon and Hajra Iqbal Memon as Fugitive Economic Offenders under the provisions of the FEOA, 2018.

Further investigation in the case is underway.

–IANS

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