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The Directorate of Enforcement (ED) has provisionally attached movable-immovable properties worth Rs 2.18 crore belonging to one accused Upendra Rai under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The immovable properties are in the form of flats owned by accused Upendra Rai located in Noida, Uttar Pradesh and movable properties are in the form of fixed deposits (FDs) and balance in savings account. ED in a release stated on Monday that it initiated investigation on the basis of two FIRs registered by CBI, New Delhi under various sections of IPC and PC Act against Upendra Rai and "others". ED said the investigation revealed that accused Upendra Rai, his brother Narender Rai and other associates were involved in extortion of money from various persons/entities by threating action from investigative agencies. "The money so extorted was received in cash/kind in various bank accounts in the garb of Consultancy Services. Total money extorted as Proceeds of Crime in the case is to the tune of Rs 52.55 crore," the ED said. Earlier, movable and immovable properties worth Rs 26.65 crore were attached in the case. Upendra Rai was arrested and Prosecution Complaint and Supplementary Prosecution Complaint were filed on August 6, 2018 and October 26, 2018, respectively. Further investigation is under progress. (ANI)
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