Ex-UP MLC's Assets Worth Rs 4,440 Crore Attached In Money Laundering Case

 The Enforcement Directorate on Friday said it has attached the building and land of a university in Saharanpur worth Rs 4,440 crore as part of a money laundering probe against "absconding" former Uttar Pradesh BSP MLC Mohammed Iqbal and his family.

Land measuring 121 acres and the building of Glocal University has been frozen after a provisional attachment order was issued by the federal probe agency under the Prevention of Money Laundering Act (PMLA).

These properties are registered in the name of Abdul Waheed Educational and Charitable Trust which is "controlled, managed and run" by Mohammed Iqbal and his family members, the Enforcement Directorate (ED) said in a statement.

It said the action against Mr Iqbal, the trust and his family members pertains to an illegal mining case. According to the ED, the former MLC is "absconding" and is believed to be in Dubai.

His four sons and brother are lodged in jail in multiple cases registered against them, the ED said.

The money laundering case stems from a CBI FIR filed in Delhi to probe the alleged illegal renewal of sand mining leases in the Saharanpur district of Uttar Pradesh and against a number of mining lease holders, some government officials and unknown persons.

"All the mining firms were owned and operated by Mohd Iqbal group. These firms were involved in rampant illegal mining at Saharanpur and adjacent areas." "In spite of the meagre earnings shown in the ITRs (income tax returns), high-value transactions to the tune of crores of rupees have been found between the mining firms and group companies of Mohd Iqbal without having any business relations," the ED said.

Ultimately these funds were routed to the bank accounts of Abdul Waheed Educational and Charitable Trust through multiple "sham" entities and "bogus" transactions in the form of unsecured loans and donations, it claimed.

The agency said the funds of the trust were utilised for the purchase of land at Saharanpur and the construction of buildings for Glocal University.

"More than Rs 500 crore earned from illegal mining were used in buying of land and construction of buildings of the university. The present market value of the said property is Rs 4,439 crore, including land and building," it said.

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