Daijiworld Media Network – Panaji

Panaji, Sep 16: The Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth around Rs 13.44 crore belonging to accused persons in connection with the alleged siphoning of Rs 77 crore from the United Services Club in Colaba.

The attached assets include flats, land and plots, fixed deposits and bank balances located in Mumbai, Goa and Madhya Pradesh, the agency said.

According to the ED, 13 properties and financial assets belonging to former United Services Club deputy secretary (finance) Bernadette Bharat Varma, her husband Bharatkumar Shankarlal Varma and others have been provisionally attached in the case.

The ED said its investigation was initiated following an FIR registered by Mumbai Police under various provisions of the Bharatiya Nyaya Sanhita (BNS), 2023.

The agency alleged that Bernadette Varma, in connivance with her husband, opened or arranged for the opening of fake bank accounts bearing names similar to those of the club's genuine vendors. Around Rs 77 crore of the club's funds was allegedly transferred into these accounts.

The ED further alleged that the funds, identified as proceeds of crime, were subsequently diverted to personal and joint bank accounts belonging to the Varma couple, their family members and associates.

The agency said the accused allegedly used part of the proceeds to acquire immovable properties and invested another portion in fixed deposits with various banks.

The investigation also revealed that around Rs 11 crore was allegedly transferred to the bank account of Jyotirgamay Foundation, a trust. The funds were subsequently diverted to accounts linked to Chandra Prakash Pandey, his family members and firms controlled by him, the ED said. Pandey was a chartered accountant associated with the United Services Club.

The latest attachment follows the ED's earlier action on March 20, when 35 properties valued at around Rs 34.51 crore were provisionally attached in connection with the case.