Villayutham and his family members’ immovable properties worth Rs. 5.7 Crore have been attached by the Enforcement Directorate (ED). The properties are connected and consist of empty lots, farms, and structures, including a Rameswaram hotel operated by M/s. Hotel Ramajayam.
The action was taken under the provisions of the Prevention of Money Laundering Act, 2002, as part of an ongoing investigation into a money laundering case. The ED has been investigating Villayutham and his associates for allegedly laundering money through shell companies and investing the same in various properties.
The investigation revealed that Villayutham and his family members acquired these properties using the proceeds of crime. The attached properties include 18 vacant plots, 8 agricultural lands, and a hotel in Rameswaram. The hotel is said to have been run in the name of M/s. Hotel Ramajayam and its value is estimated to be around Rs. 3 Crore.
The ED has been taking strong action against money laundering and other financial crimes in recent years. It has been attaching properties and freezing bank accounts of individuals and companies suspected of engaging in such activities. These measures are aimed at preventing the generation of black money and ensuring that the proceeds of crime are not used for illicit purposes.
The ED has urged the public to be vigilant and report any suspicious financial transactions to the authorities. It has also advised people to be careful while investing in properties and to ensure that they comply with all the legal requirements. The ED has warned that anyone found to be involved in money laundering or other financial crimes will face strict action under the law.
