The Goa Directorate of Enforcement (ED) has provisionally attached two land parcels located at Galel in Sawantwadi and a residential flat in Mumbai, with a combined value of approximately ₹2.29 crore, under the provisions of the Prevention of Money Laundering Act (PMLA).
According to the ED, the attached properties belong to Jiwa Mines & Minerals Ltd. and are linked to an alleged cheating case involving M/s Lao Ting Dadi Mobile Components Co. Ltd. The case pertains to an alleged financial fraud of around ₹13.42 crore (USD 2.95 million) reported in 2010.
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Officials stated that the provisional attachment forms part of an ongoing investigation into the laundering of proceeds of crime generated from the alleged offence. Further inquiries are underway to trace additional assets and establish the full extent of the financial transactions connected to the case.
The ED has reiterated that such actions are aimed at preventing the dissipation of tainted assets and ensuring that proceeds of crime are eventually confiscated in accordance with law.
