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BoB scam – Rs 12 cr assets attached

The Enforcement Directorate has attached assets, including properties and luxury cars, worth Rs 12.52 crore in connection with its money laundering investigations into the Rs 6,000-crore suspicious forex transactions case at Bank of Baroda branch in New Delhi. The attachment of over a dozen movable and immovable assets has been done under the criminal provisions of the Prevention of Money Laundering Act against four accused who had been arrested in the case. The list of 14 seized properties in the case include flats and plots in Delhi, Gurgaon and Rajasthan and expensive cars like Mercedes Benz, Elantra and Honda City. The Enforcement Directorate had earlier termed this case to be an alleged incident of trade-based money laundering, where accused traders evade custom duties and taxes to generate slush funds. All the four, who had been arrested in October, were said to be alleged middlemen for at least 15 fake companies, out of the total 59 which were involved in the perpetrating of the economic crime unearthed few months back. The CBI had arrested Bank of Baroda AGM S K Garg and Jainish Dubey, who headed the foreign exchange division at its Ashok Vihar branch in Delhi.

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