New Delhi: The Enforcement Directorate (ED) on Friday said it has filed a chargesheet at a special PMLA court in Bengaluru against Mohamed Asadulla and others and his company, Al-Ameen Housing Development Company Ltd.
The court has taken cognisance of the chargesheet filed by the ED and has issued summons to all the accused persons.
The chargesheet was filed in a case of bank fraud in Amanath Co-operative Bank Ltd.
The ED initiated the PMLA case on the basis of an FIR registered by Commercial Street Police Station, Bengaluru against Asadulla and others.
Five chargesheets were filed by the police in 2006 against Asadulla and others.
The ED learnt that during the year 1985 to 2002, the accused misappropriated the funds of Amanath Co-operative Bank by allegedly sanctioning huge amount of loans to non-existent and fictitious account holders, passing cheques and overdraft accounts fraudulently and defrauding the bank and by using the said funds for their personal purpose and investing the same in immovable properties in their name and in the name of their relatives.
So far, proceeds of crime worth Rs 68.43 crore have been identified.
Earlier, a provisional attachment order was issued by the ED in this case, attaching immovable property in the name of Asadulla and others.
The current market value of the attached property is Rs 243.93 crore.