Team Goemkarponn
PANAJI: The Directorate of Enforcement (ED), Panaji Zonal Office, has provisionally attached properties worth ₹2.86 crore in South Goa in connection with a ₹7 crore loan fraud against Canara Bank.
The attached assets include 22 plots of land in Dharbandora belonging to CMTC partner Riyaz Shaikh, and two plots of land in Cuncolim along with a row villa in Fatorda belonging to managing partner Aditya Angle.
According to ED, the accused partners of M/s Crown Minerals Trading Corporation (CMTC) obtained a ₹7 crore loan from Canara Bank on the pretext of iron ore trading. The properties mortgaged were already pledged with other banks, and the funds were later siphoned off into personal accounts through fake transactions.
ED stated that these diverted funds, classified as “proceeds of crime”, were used for personal enrichment and to acquire immovable assets in Goa, which have now been attached under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).
The total proceeds of crime in the case have been pegged at ₹7 crore.
