Hyderabad: The Enforcement Directorate (ED) has cautioned the general public not to deal with over 300 immovable properties across the State as these properties could be confiscated by the government as part of proceedings under the Prevention of Money Laundering Act (PMLA).
Of the 300 and more properties, a majority were located in Ibrahimpatnam in Ranga Reddy district, Qutbullapur, Banjara Hills and Shaikpet among other areas. The ED has uploaded the details of these properties on its website. The site has details of such properties in 19 States, with those in Telangana included in the link for Andhra Pradesh.
ED sources said the details of the properties were uploaded only after collecting information from all the zonal offices across the country a month ago. The ED had earlier attached assets belonging to two directors of a company, their family members and other associates in connection with a Ponzi scheme scam along with those of another company involved in a pyramid style multilevel marketing fraud.
The properties belonging to Heera Group of Companies founder Nowhera Shaik and her aides were also attached in similar manner.
A Confirmed Attached Immovable Property is the immovable property suspected to be involved in money laundering and is attached by the ED under Section 5 of the PMLA. The attachment is confirmed by the Adjudicating Authority under provisions of subsection 4 of Section 8 of the PMLA.
Under this Section, the director or any other officer authorized by him in this behalf can take possession of the property attached or frozen under the same Act.
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