Provisional attachment sustained where traced funds were linked to fraud proceeds and lawful source claims were not proved.

Provisional attachment of assets was upheld where the evidence showed funds collected from the public through payment gateways were credited into the appellant's bank accounts and then routed to trading and self-accounts. The appellant failed to comply with summons under the money-laundering law and did not produce credible proof of lawful sources such as tuition income, savings, loans, or other personal earnings. Given the statutory burden and the tracing of the credited amounts to fraud proceeds, no basis was found to interfere with the attachment, which was sustained.

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Issues: Whether the provisional attachment of the appellant's assets as proceeds of crime was liable to be interfered with.

Analysis: The attachment was examined in the context of a large-scale fraud investigation in which funds collected from the public through payment gateways were traced into the appellant's bank accounts and then routed to trading and self-accounts. The appellant did not comply with summons issued under the money-laundering law and failed to produce credible evidence of the asserted lawful sources of funds such as tuition income, savings, loans, or other personal earnings. In view of the statutory burden and the material showing that the credited amounts were linked to the fraud proceeds, no basis was found to dislodge the finding that the attached amounts represented proceeds of crime.

Conclusion: The challenge to the provisional attachment failed and the attachment was sustained.

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