ED attaches the assets of the railway engineer of Jamalpur worth Rs 3.44 crore
PATNA: The Enforcement Directorate (ED) has provisionally seized movable and immovable property worth at least Rs3.44 crore, allegedly amassed by senior railways section engineer Chandeshwar Prasad Yadav.
Yadav was posted at the Jamalpur Railway Workshop in Munger. The ED investigators of Patna’s zonal office had him arrested on September 14 for money laundering. The assets were seized on Monday, according to Tuesday’s ED communique.
Sources said the attached properties include a house in Gardanibagh and plots of land in Mahnar and Hajipur in Vaishali and Dalsingsarai in Samastipur. “These plots were bought in the name of his wife Urmila Devi,” said an ED source.
The attached movable property includes investments of at least Rs 35.85 lakh in seven mutual funds, Rs 7.97 lakh in four insurance policies, Rs 1.64 crore in 29 fixed deposits with banks and Rs 17.25 lakh in Yadav’s bank accounts, Urmila and their sons Bharat Bhushan and Shashi Bhushan.
“He made a statement after four days of interrogation in police custody that he had amassed property with the ill-gotten money. He also disclosed his knowledge of Patna’s Maharani Steels owner Devesh Kumar in embezzling 100 rejected wagons, 3220 released wheel sets and other steel fittings worth Rs 34 crore from the Jamalpur workshop for earning financial satisfaction from the industrialist,” said a source.
Devesh was arrested on August 13. The eclipse took place between 2013 and 2017. It was discovered during the railway surveillance inspection. “Railway authorities complained to CBI about this embezzlement in 2017. The CBI registered an FIR on February 9, 2018 and also filed a suit in the case. ED’s investigation into money laundering is based on the CBI case,” a source said.
ED investigation revealed that Yadav’s salary was Rs38 lakh between January 2013 and December 2017 but he had deposited Rs2.37 crore in his bank accounts as well as those of his relatives. The money was received from Devesh. “These cash deposits were tiered and eventually invested to amass properties,” the source added.
Yadav was posted at the Jamalpur Railway Workshop in Munger. The ED investigators of Patna’s zonal office had him arrested on September 14 for money laundering. The assets were seized on Monday, according to Tuesday’s ED communique.
Sources said the attached properties include a house in Gardanibagh and plots of land in Mahnar and Hajipur in Vaishali and Dalsingsarai in Samastipur. “These plots were bought in the name of his wife Urmila Devi,” said an ED source.
The attached movable property includes investments of at least Rs 35.85 lakh in seven mutual funds, Rs 7.97 lakh in four insurance policies, Rs 1.64 crore in 29 fixed deposits with banks and Rs 17.25 lakh in Yadav’s bank accounts, Urmila and their sons Bharat Bhushan and Shashi Bhushan.
“He made a statement after four days of interrogation in police custody that he had amassed property with the ill-gotten money. He also disclosed his knowledge of Patna’s Maharani Steels owner Devesh Kumar in embezzling 100 rejected wagons, 3220 released wheel sets and other steel fittings worth Rs 34 crore from the Jamalpur workshop for earning financial satisfaction from the industrialist,” said a source.
Devesh was arrested on August 13. The eclipse took place between 2013 and 2017. It was discovered during the railway surveillance inspection. “Railway authorities complained to CBI about this embezzlement in 2017. The CBI registered an FIR on February 9, 2018 and also filed a suit in the case. ED’s investigation into money laundering is based on the CBI case,” a source said.
ED investigation revealed that Yadav’s salary was Rs38 lakh between January 2013 and December 2017 but he had deposited Rs2.37 crore in his bank accounts as well as those of his relatives. The money was received from Devesh. “These cash deposits were tiered and eventually invested to amass properties,” the source added.
