A special court in Jalandhar dealing with money laundering cases has delivered a significant verdict, convicting a man involved in cross-border drug trade under stringent anti-money laundering laws. The judgment underscores the legal crackdown on the financial proceeds of narcotics smuggling.
Court Delivers Verdict and Sentence
On Monday, the designated Prevention of Money Laundering Act (PMLA) court found Athar Sayeed guilty of laundering money generated from illegal drug trafficking. The judge sentenced him to undergo three years of rigorous imprisonment. Additionally, the court imposed a monetary penalty of Rs 10,000 on the convicted individual.
The prosecution successfully established that properties identified as proceeds of crime, totaling Rs 17 lakh, were seized from Sayeed. This amount has been formally attached by the authorities.
The Investigation: From Drugs to Dirty Money
The case originated from an FIR registered by the Punjab Police under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, targeting cross-border drug trafficking. Based on this police case, the Enforcement Directorate (ED) launched a parallel probe under the PMLA to track the financial trail.
The ED's investigation revealed that Athar Sayeed was actively involved in cross-border heroin smuggling. His criminal activities encompassed the entire chain: from smuggling the contraband into India, to its subsequent sale in the market, and finally, the collection and laundering of the drug money to make it appear legitimate.
Attachments and Earlier Actions
As part of the money laundering investigation, the ED had conducted searches at two locations on April 1, 2016. Following the probe, the agency moved to attach the identified proceeds of crime. In March 2018, movable properties worth Rs 17 lakh, primarily comprising cash seized from Sayeed, were officially attached under the provisions of the PMLA.
This conviction highlights the increasing focus of Indian agencies on following the money trail in organized crime. It demonstrates how laws like the PMLA are being used to not only punish the predicate offence like drug trafficking but also to cripple the financial infrastructure that makes such crimes profitable.
