The Directorate of Enforcement (ED) has temporarily seized moveable and immovable assets totalling Rs. 20.36 crore of Ram Bilas Yadav, IAS (Retd.), the then Additional Secretary to the Uttarakhand Government, in accordance with the Prevention of Money Laundering Act (PMLA), 2002.
The ED launched an inquiry based on an FIR filed by the Vigilance Establishment Dehradun against Ram Bilas Yadav under the Prevention of Corruption Act, 1988, for owning excessive assets. According to the LEA chargesheet, Ram Bilas Yadav earned Rs. 78,51,777/- from his known sources of income between January 1, 2013, and December 31, 2016, while his spending was Rs. 21.40 Crore. As a result, he has been accused of amassing disproportionate assets (DA) of Rs. 20.61 Crore, which is 2626% higher than his known legitimate revenue sources.
Furthermore, during the course of the investigation, the ED detained Ram Bilas Yadav on 19.05.2023 under Section 19 of the Prevention of Money Laundering Act of 2002 in connection with the investigation undertaken under the Prevention of Money Laundering Act of 2002.
This ill-gotten money earned by Ram Bilas Yadav was used in the purchase of a flat, and 04 pieces of land in the name of his family members, and also spent on the construction of buildings of his house at Lucknow, Janta Vidyalaya Gudamba, Lucknow, a complex, and Late Ramkaran Dada Memorial Trust, Ghazipur, and was also used in investing in movable assets, according to an investigation conducted under PMLA, 2002.
Following the identification of the Proceeds of Crime (PoC), a Provisional Attachment Order was issued in the name of the accused and his family members for attaching immovable properties in the form of flats, pieces of land, and construction thereon to the tune of Rs. 18.33 Crore and movable properties in the form of Fixed Deposits (FD) to the tune of Rs. 2.03 Crore (approx.). More research is being conducted.
