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Rs 500 crore Srijan scam: ED gets 5-day custody of key accused

Rs 500 crore Srijan rip-off: ED will get 5-day custody of key accused | Information

New Delhi: The Enforcement Directorate (ED) was granted five-day custody of key accused within the alleged Rs 500 crore Srijan rip-off case by a particular PMLA court docket in Patna.
ED had arrested Bipin Kumar, the prime accused in Srijan Mahila Vikas Sahyog Samiti Restricted (SMVSSL) case final month.
Kumar in connivance with a number of authorities and financial institution officers and different individuals allegedly conspired to divert the federal government funds into the accounts of Srijan which was used for the advantage of all of the conspirators.
“SMVSSL opened numerous financial institution accounts in Financial institution of Baroda, Indian Financial institution and Bhagalpur Co-operative Financial institution with the assistance of Financial institution officers. Additional, in conspiracy with the Govt officers, the funds mendacity within the District Land Acquisition Workplace, Indira Aawas Yojana, District Welfare Scheme, and many others have been transferred to Srijan’s account. In furtherance of the conspiracy, the funds from Srijan have been misused for buy of flats and different immovable properties in Ghaziabad, Pune, Patna, Bhagalpur, and many others.,” stated ED in a press release.
ED initiated cash laundering investigation on the idea of FIR registered by CBI Delhi. In the course of the course of investigation, the company stated it discovered that the accused has acquired movable and immovable properties out of the proceeds of crime.
“On account of preliminary investigation, two provisional attachment orders have been issued attaching property value Rs. 18.45 crore together with 32 flats, 18 outlets, 38 plots/home, 47 financial institution accounts, two autos,” the company added.
ED stated that in your complete investigation, Bipin Kumar was non-cooperative and didn’t adjust to the summons issued by the investigation company. 
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