AT determined appellant's property was proceeds of crime under ...

Spouse of NSEL Executive Loses Appeal Against Property Seizure Under PMLA Section 8 for Fraud-Linked Assets

May 31, 2025

Case Laws Money Laundering AT

AT determined appellant's property was proceeds of crime under PMLA, arising from NSEL fraud scheme. Evidence established appellant's spouse was a senior NSEL executive involved in systematic financial manipulation, with property purchased using fraudulently obtained consultancy charges. Despite appellant's claims of legitimate income, the tribunal found her defense unsubstantiated and concluded the property was directly linked to criminal proceeds. The tribunal rejected appellant's arguments regarding property valuation and lack of predicate offense chargesheet, confirming full property attachment. Appeal was consequently dismissed, upholding the original attachment order.

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AT determined appellant's property was proceeds of crime under ...

Spouse of NSEL Executive Loses Appeal Against Property Seizure Under PMLA Section 8 for Fraud-Linked Assets

May 31, 2025

Case Laws Money Laundering AT

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