The AT dismissed the appeal, upholding attachment of four...

The AT dismissed the appeal, upholding attachment of four properties as "proceeds of crime" under PMLA. It declined to re-evaluate investigative evidence because the appellant and co-accused face trial for the predicate offence and ED lacks power to re-investigate the scheduled offence. Two properties purchased in 2011 were held to be directly acquired from criminal proceeds; two earlier acquisitions were held attachable under the second limb of "proceeds of crime" as equivalent value where proceeds were siphoned off and unavailable. The AT applied binding higher-court precedent interpreting the statutory definition and concluded attachment of equivalent value was lawful, thereby rejecting the appellant's grounds.

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