https://www.taxtmi.com/caselaws?id=377708 A bona fide secured creditor with a prior mortgage was held to have statutory priority over a later provisional attachment under the money-laundering law. The Tribunal found that the bank's security interest predated the alleged laundering activity, that the bank had no nexus to the predicate offence, and that property lawfully acquired and mortgaged before the alleged crime could not be treated as proceeds of crime against that creditor. The attachment was therefore set aside to the extent of the bank's secured interest, while proceedings against the borrowers continued. en-us Thu, 28 Mar 2019 00:00:00 +0530 Wed, 03 Apr 2019 05:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377708 A bona fide secured creditor with a prior mortgage was held to have statutory priority over a later provisional attachment under the money-laundering law. The Tribunal found that the bank's security interest predated the alleged laundering activity, that the bank had no nexus to the predicate offence, and that property lawfully acquired and mortgaged before the alleged crime could not be treated as proceeds of crime against that creditor. The attachment was therefore set aside to the extent of the bank's secured interest, while proceedings against the borrowers continued. Case-Laws Money Laundering Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377708