Daijiworld Media Network - Panaji

Panaji, Jun 21: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 1,023 cr located in India and Singapore in connection with an alleged illegal iron ore mining and export case linked to Goa.

The action was taken under the Prevention of Money Laundering Act (PMLA) and is among the agency’s major asset attachment operations in a mining-related investigation.

According to the ED, the attached properties include movable and immovable assets allegedly connected to individuals and entities suspected of benefiting from proceeds generated through illegal mining activities.

The agency has alleged that the accused were involved in illegal extraction and export of iron ore, resulting in substantial losses to the government while generating unlawful financial gains.

Investigators further claimed that the proceeds of the alleged illegal activities were routed through multiple financial channels, including overseas entities, in an attempt to conceal their source.

The case forms part of a wider investigation into illegal mining and money laundering activities that have been under scrutiny in Goa and Karnataka.

The ED said its investigation is ongoing and further action may be taken based on evidence collected during the probe.

The provisional attachment has been carried out to prevent the suspected proceeds of crime-linked assets from being transferred, disposed of or otherwise dealt with during the course of the investigation.