Lamjingba Group managing director Sanasam Jacky has been remanded by the Chief Judicial Magistrate of Imphal West in 15-day judicial custody till February 13 for detailed investigation.
The Chief Judicial Magistrate of Imphal West has remanded
Sanasan Jacky was arrested by the Enforcement Directorate (ED) in a money laundering case linked to a ponzi scheme through which 15,000 investors were duped of their investments to the tune of Rs 580 crore.
During the hearing of judicial custody by the Chief Judicial Magistrate of Imphal West, the special public prosecutor (SPP) submitted that during the ED custody from Kanuary 21-24, voluntary statements of the accused was recorded U/S 50 of PMLA Act, 2002 from January 21 to 30 and he admitted his direct involvement in commission of the offence of money laundering punishable under section 4 of rge PMLA 2002.
From the statement, it is necessary to record the statements of other co-accused. It is also submitted that the accused was found in possession of several assets, both movable and immovable, which were derived from proceeds of crime (POC) as defined under section 2(1)(u) of PMLA. These assets, which constitute POC, are required to be secured and confiscated. Thus, sufficient time is required for proper verification and physical identification of those assets, it stated.
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During the interrogation, the accused confessed that in connivance with other associates he had transferred the ownership and title of some of his assets, both movable and immovable, by way of direct sale, mortgage etc.
Various bank accounts of the Lamjingba Group shell firm/ companies were subsequently invested for acquisition of several properties and for personal expenses of the accused.
The investigation to identify and ascertain all properties acquired by the accused out of proceeds of crime derived from the operation of Ponzi scheme is under process. The accused have several bank accounts, both in India and abroad, verification and security of all the accounts transaction details is in process, SPP submitted.
After hearing the submissions, the court stated that it appeared that more detail investigation was required and that many incriminating materials were yet to be recovered and that the submission of the SPP that if the accused is not remanded in judicial custody, would jeopardise the entire investigation and that there is possibility of him tampering those evidences or innocent witnesses as the investigation was critical and complex, appeared to be reasonable ground to allow the prayer. Therefore, Jacky was remanded in judicial custody.