ED attaches assets worth Rs 1.61 crore of two Telangana-based drugs case accused
India Today
The Enforcement Directorate has attached assets worth Rs 1.61 crore under the Prevention of Money laundering Act of two Telangana-based accused in an NDPS case.
The Enforcement Directorate (ED) has attached assets worth Rs 1.61 crore under the Prevention of Money laundering Act (PMLA) of two Telangana-based accused in a case pertaining to illegal manufacturing and sale of drugs, officials said.
The attached assets belong to accused S Nagraju, Gadiparthi Satyanarayana and K Raju Paranthaman who were booked by the Directorate of Revenue Intelligence (DRI) under Narcotic Drugs and Psychotropic Substances (NDPS) Act for illicit manufacturing and trading of ephedrine, a controlled substance under the NDPS Act.
Ephedrine is a controlled drug and is banned in India for over-the-counter trade. In a few countries, it is used in controlled amounts for ease in breathing. However, it is popularly being used in India and other countries in the powder form, which causes euphoria, hallucinations, delusions, hypertension and nausea.
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“Investigation revealed that by indulging in the schedule offence, S Nagraju and others have generated proceeds of crime to the extent of Rs 5.23 crore by trading in the illegally manufactured ephedrine,” said the ED.
The financial probe agency has allegedly found that all of the transactions were made in cash without bills, invoices and permit from authorities.
The accused allegedly acquired properties by making payments in cash, which are the proceeds of crime. The ED identified and has now attached 16 land properties located in Telangana and Tamil Nadu worth Rs 1.61 crore.
