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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
ED attaches Rs 65 cr properties linked to ex-GM of Sikkim bank in money laundering case
Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs 65.46 crore in connection with a money laundering case involving a former general manager-ranked officer of a Sikkim-based bank. The ED said in a statement that the attached assets include four residential properties and land parcels located in Deorali, Syari, Ranipool and Penlong — all in Sikkim.
These properties were allegedly acquired using proceeds from fraudulent activities linked to siphoning of funds from the State Bank of Sikkim (SBS) by Dorjee Tshering Lepcha, its former general manager (operations).
Additionally, several bank accounts with a combined deposit of approximately Rs 53.41 crore in the names of Lepcha and his family members have also been frozen, the statement said.
These actions are parts of an ongoing investigation into the misappropriation and laundering of funds from the bank under the Prevention of Money Laundering Act (PMLA), 2002.
Established in 1968, the SBS is an autonomous body under the Sikkim government and it is responsible to handle the treasury function of the state, according to the bank's website.
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