ED Seizes Rs 5.1 Crore Properties of GHMC Officer in Hyderabad Money Laundering Probe
The Enforcement Directorate (ED), Hyderabad, has taken decisive action by provisionally attaching 19 immovable properties valued at approximately Rs 5.1 crore. This significant move comes under the stringent provisions of the Prevention of Money Laundering Act (PMLA), targeting assets linked to Dacha Janardhan Mahesh, a town planning section officer with the Greater Hyderabad Municipal Corporation (GHMC) in Secunderabad.
Details of the Attached Assets and Investigation
The attached assets encompass a diverse portfolio, including plots of land, commercial shops, residential flats, and other premises. These properties are owned by Mahesh and his immediate family members, highlighting the extensive nature of the alleged financial irregularities. The ED's investigation was initiated following a First Information Report (FIR) registered in 2016 by the Anti-Corruption Bureau (ACB), Hyderabad, under the Prevention of Corruption Act.
In June 2022, the ACB filed a detailed chargesheet before the First Additional Special Judge for SPE and ACB cases at Hyderabad. This legal document explicitly stated that Mahesh possessed assets worth Rs 5.2 crore, which were deemed disproportionate to his and his family's known sources of income. The chargesheet laid the groundwork for the ED's subsequent probe into the money laundering aspects of the case.
Uncovering the Money Laundering Network
The ED's meticulous investigation revealed that Mahesh acquired numerous immovable properties not only in his own name but also in the names of various relatives. These acquisitions were allegedly financed using proceeds of crime, with a significant portion of the sale consideration being paid in cash. Investigators uncovered that substantial cash deposits were systematically made into the bank accounts of Mahesh and his family members.
These deposits were strategically designed to create the appearance of legitimate funds, masking the illicit origins of the money. Once laundered through the banking system, these funds were subsequently utilised to purchase properties and cover a range of personal expenses. The investigation further indicated that the proceeds of crime were also channelled into the development and construction of a project named "Shree Indira Sadan".
This construction venture was allegedly carried out with the assistance of Mahesh's cousin, KB Laxminarayana, who is a partner in Maheshwari Constructions. The involvement of family members and associates in the alleged money laundering scheme underscores the complexity and reach of the financial network under scrutiny.
Implications and Ongoing Legal Proceedings
The provisional attachment of these properties represents a critical step in the ED's efforts to curb money laundering and recover illicit assets. It sends a strong message about the agency's commitment to tackling corruption and financial crimes, particularly within public offices. The case highlights the ongoing challenges in monitoring and preventing the misuse of official positions for personal gain.
As the investigation continues, further legal proceedings are expected to unfold, potentially leading to more revelations and actions. The collaboration between the ED and the ACB in this case exemplifies the multi-agency approach required to effectively combat sophisticated financial crimes. The outcome of this probe will be closely watched, as it may set precedents for similar cases involving disproportionate assets and money laundering in the public sector.
