Chennai
The Enforcement Directorate (ED) has attached 46 properties including 230 acres of land, 20 plots, apart from gold and high-end cars in connection with the term deposit fraud in Chennai Port Trust.
The ED officials had conducted detailed searches at 15 premises belonging to the Chennai Port Trust officials, who are suspects in the case, across the state in June this year.
Investigation revealed that the port trust officials had submitted fake fixed deposit receipts in Chennai Port Trust. By retaining the original fixed deposits receipts they had fraudulently liquidated the fixed deposit receipts within a couple of days after the opening of fake fixed accounts.
The suspects swindled an amount of Rs. 45.40 Crores that was fraudulently transferred to a fake current account in the name of Chennai Port Trust.
Of them, around Rs. 15.25 Crores was withdrawn by cash from the said current account by impersonating as a deputy director of finance of Chennai Port Trust. The remaining amount of around Rs. 31.65 crores was transferred to many bank accounts through more than 49 transactions. Soon after transferring the liquid cash, subsequently withdrawn as cash from those accounts upon luring the gullible account holders in lieu of a small commission.
The proceeds of crime had been invested in 230 acres of land in the Chennai city-suburban and a few other second rank cities in the state, apart from more than 20 plots, gold jewellery, high-end cars, and deposit in bank accounts. Further investigation is on.
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