Directorate of Enforcement (ED) has filed Prosecution Complaint against Shri
Vijayasarathi, Former Cluster Manager, ICICI Bank, Vijayapura and 5 others under
the provisions of Prevention of Money Laundering Act, 2002 (PMLA) in a cheating
case. Vijayasarathi and his associates have acquired the proceeds of crime by
cheating ICICI Bank and layered the same in the form of various movable and
immovable properties. The Prosecution Complaint involves attachment of immovable
properties like Duplex House in Bengaluru, Row house & lands in Vijayapura district,
lands in Belagavi district and Agricultural Lands in Udupi district worth Rs.
5.31crores movable properties like cash seizure & bank accounts worth Rs. 6.53
crores and gold and silver jewellery worth Rs. 27 Lakhs respectively being proceeds
ED initiated money laundering investigation based on 4 FIRs registered at APMC
Police Station, Vijayapura, Karnataka and subsequently the FIRs were transferred to
CID, Bengaluru for investigation. On completion of the investigation, CID, Bengaluru
filed Charge sheet before the Hon’ble 1st Additional Senior Civil Judge and CJM,
Vijayapura for the offences under Sections 120B, 201, 409, 465, 468, 471, 477A
read with Section 36 of IPC, 1860. Investigations revealed that Vijayasarathi and
Sachin Annappa Patil, employees of the ICICI Bank Vijayapura branch have
committed fraud to the extent of Rs. 70.44 crores by using the cancelled cheques,
unused cheques, through fraudulent transfers, issuing fake Fixed Deposit receipts,
not crediting the cash which was received for credit in the Bank accounts of ICICI
Bank, BDCC Bank, Siddeshwara Co-operative Bank, etc along with their associates
Renuka Shetty, Sudeep Shetty, Sajjade Peeran Mushrif and Vijayendra.
Investigation conducted under PMLA revealed that Vijayasarathi and
others 5 accused persons have committed offence under section 3 of PMLA and
punishable under Section 4 of PMLA. Accordingly Prosecution Complaint has been
filed against them before the Hon'ble Special Court for PMLA, Mangalore with a
prayer for awarding punishment to the accused and confiscation of attached assets
totalling to Rs.12.11 crores.
ED filed Prosecution Complaint against T. Pradeep, former Administrative Officer, Oriental Insurance Company Limited
Directorate of Enforcement (ED) has filed Prosecution Complaint against T
Pradeep, former Administrative Officer, M/s Oriental Insurance Company Limited
(OICL), Dharwad under the provisions of Prevention of Money Laundering Act, 2002
(PMLA). T Pradeep had acquired the proceeds of crime by misusing his authority in
M/s OICL and had fraudulently transferred the company’s fund to third party
beneficiaries and layered the proceeds of crime in the form of movable property
worth Rs. 1.39 Lakhs.
ED initiated money laundering investigation based on FIR registered by CBI,
ACB, Bengaluru on 12.04.2014 and subsequently Charge Sheet was filed against
the Accused T. Pradeep under Sections 420, 409, 468,471 & 477-A IPC and Sec.
13(2) r/w 13(1)(c) &(d) of the Prevention of Corruption Act-1988 and Section 66-C of
Information Technology Act, 2000 on 17.11.2015. Investigations revealed that T
Pradeep, employee of M/s OICL had committed fraud by misappropriating the
amount to the extent of Rs. 5.03 crores by transferring from company’s account to
third parties during the period from 02.07.2013 to 26.03.2014. All the third party
beneficiaries are fictitious and most of the amount transferred has been withdrawn in
cash from different ATMs across India.
On the basis of investigation conducted by ED, it has been revealed that T
Pradeep have committed offence under section 3 of PMLA and punishable under
Section 4 of PMLA. Accordingly Prosecution Complaint has been filed before the
Hon'ble Special Court for PMLA, Mangalore.