ED arrests mastermind of Rs 300-crore high-value land grab syndicate in Goa
The Enforcement Directorate (ED) has arrested a mastermind of a land-grabbing syndicate accused of fraudulently acquiring high-value properties in Goa and generating proceeds of crime
The Enforcement Directorate (ED) has arrested a mastermind of a land-grabbing syndicate accused of fraudulently acquiring high-value properties in Goa and generating proceeds of crime estimated at over Rs 300 crore, officials said. The ED's Panaji Zonal Office arrested Siddique Khan alias Suleman Khan, 55, a resident of Karnataka, on July 16 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Read Full Story According to the agency, Khan was the mastermind and principal beneficiary of an organised syndicate involved in the large-scale grabbing of immovable properties in Goa through forged and fabricated title documents.
The money-laundering investigation was initiated on the basis of multiple criminal cases registered by the Goa Police against Khan and his associates for offences including forgery, cheating and fraudulent transfer of immovable properties. The state police has already filed charge sheets in these cases, which constitute scheduled offences under the anti-money laundering act. The ED said its investigation revealed that the syndicate created forged and predated sale deeds and title documents, in several cases using the names of dead or fictitious predecessors of the rightful owners. These documents were then used to fraudulently mutate and transfer ownership of valuable land parcels in official land records in favour of the accused and his associates.
According to the central agency, the properties obtained through the fraud were subsequently sold, developed or otherwise monetised, generating substantial illegal money that were projected as legitimate assets. The ED said the immovable properties acquired and held by or on behalf of the accused span around 25 hectares, or about 62.5 acres, of high-value land in Goa. As no genuine consideration was paid and ownership was obtained through forgery, the agency has provisionally estimated the illegal money at not less than Rs 300 crore. Describing Khan as a history-sheeter with several antecedent cases, the ED said he was arrested after following due legal procedure.
The accused was produced before the Special Court (PMLA), North Goa, which granted the ED five days of custody for custodial interrogation. The agency said it will use the custody period to trace the money trail, identify tainted properties and other beneficiaries, and uncover the wider conspiracy. Ends
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