Man Gets 5-Year Jail Term In Bihar’s First Money Laundering Conviction

Patna: 

A special court in Patna on Thursday sentenced a man to five-year imprisonment, including rigorous imprisonment for one year, in a money laundering case, said to be first such conviction in Bihar.

An Enforcement Directorate statement said that Mohammad Naushad was also ordered to pay a fine of Rs 5 lakh, while his attached assets have been confiscated.

Bihar Police had registered a case against Naushad in November 2009 for trading in illegal arms. Fake Indian currency notes with a face value of Rs 1.4 lakh were seized from his residence. The ED initiated a PMLA case against him in 2013.

The ED investigation revealed that Naushad earned his ill-gotten money through crime and utilised it to acquire immovable property, a house valued at Rs 22.56 lakh, in Munger district in his own name during 2009-2010.

In 2016, the ED provisionally attached Naushad’s property and charge-sheeted him in the Prevention of Money Laundering Act case.

https://www.ndtv.com/india-news/man-gets-5-year-jail-term-in-bihars-first-money-laundering-conviction-1930660

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