Provisional Attachment of Rs 14,000 Assets Ordered in LIC Fraud Case

During the investigation into the LIC check fraud, the Enforcement Directorate identified a sum of Rs 14,000 that was directly linked to the proceeds of crime. On 17 March 2018, a Provisional Attachment Order (No. 03/2018) was issued, earmarking assets equal to the value of this amount for seizure.

The attachment was later validated by the Adjudicating Authority on 6 September 2018, under Original Complaint No. 924/2018. This legal step ensured that the illicit funds could be confiscated and redirected to the state treasury.

The Special Court, while delivering its verdict, invoked Section 8(5) of the PMLA to order the permanent forfeiture of the attached assets to the central government. This measure underscores the comprehensive approach adopted by law enforcement agencies to dismantle financial crime networks and recover unlawfully obtained wealth.