The AT dismissed the appeal challenging the attachment of...

The AT dismissed the appeal challenging the attachment of property under money laundering proceedings against the appellant, a bank branch manager accused of sanctioning unauthorized loans based on fabricated documents. The Tribunal reaffirmed that property acquired prior to the commission of the scheduled offence is not subject to attachment, but where proceeds of crime are not found with the accused due to their disappearance, property of equivalent value may be attached. The decision relied on established precedent confirming that attachment aims to prevent dissipation of criminal proceeds and enforce recovery even if the direct proceeds are unavailable. Given that the proceeds had vanished and were not in the appellant's possession, attachment of property of equivalent value was upheld. The impugned order was found legally sound, and no interference was warranted. The appeal was therefore dismissed.

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