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ED Attaches Rs 13.44 Crore Assets in Club Fraud Case
The Enforcement Directorate is investigating an alleged money fraud involving United Services Club.
It says a club finance official and her husband used bank accounts made to look like vendor accounts.
About Rs 77 crore was allegedly moved through those accounts.
The agency says some of the money went to the couple, their family members and associates.
It also says some money was used to buy properties and fixed deposits.
Assets worth Rs 13.44 crore have now been attached in three regions.
The ED said Rs 11 crore went through Jyotirgamay Foundation to accounts connected with a chartered accountant and others.
The case began after Mumbai Police registered a complaint under provisions of the Bharatiya Nyaya Sanhita.
The Enforcement Directorate attached 13 movable and immovable properties worth Rs 13.44 crore in Mumbai, Goa and Madhya Pradesh.
The assets include a flat, plot, fixed deposits and bank balances linked to United Services Club fraud allegations.
ED alleged that club finance official Bernadette Varma and her husband routed around Rs 77 crore through fake or dummy vendor accounts.
The agency said the money was diverted to personal, family and associate accounts and used to buy properties and fixed deposits.
ED said Rs 11 crore was transferred to Jyotirgamay Foundation, while 35 properties worth Rs 34.51 crore had been attached earlier.
- Who
- The Enforcement Directorate is investigating allegations involving United Services Club functionary Bernadette Bharat Varma, her husband Bharatkumar Shankarlal Varma, and others, including chartered accountant Chandra Prakash Pandey.
- What
- The ED attached 13 properties and financial assets worth Rs 13.44 crore in an alleged financial fraud case.
- Where
- The attached assets are located in Mumbai, Goa and Madhya Pradesh.
- When
- The latest attachment was announced on Monday; 35 properties worth Rs 34.51 crore were attached earlier on March 20.
- Why
- The ED alleges that about Rs 77 crore was routed through fake or dummy vendor accounts and that the proceeds were used for personal transfers, property purchases and fixed deposits.
Key facts
- Agency
- Enforcement Directorate, Mumbai Zonal Office
- Legal basis
- Prevention of Money Laundering Act, 2002
- Latest attachment
- 13 movable and immovable properties worth Rs 13.44 crore
- Locations
- Mumbai, Goa and Madhya Pradesh
- Alleged diverted funds
- Around Rs 77 crore
- Foundation transfer
- Rs 11 crore was allegedly transferred to Jyotirgamay Foundation
- Earlier action
- 35 properties worth Rs 34.51 crore were attached on March 20
Sources
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