https://www.taxtmi.com/caselaws?id=457294 Karnataka HC allowed petition for discharge in money laundering case involving siphoning of KSAMB funds through forged documents and bank transfers. Court held that petitioner, not accused in scheduled offence, cannot be prosecuted under PMLA Section 3 without evidence of knowledge that transferred funds were crime proceeds. Citing SC precedent, court found no prima facie evidence of petitioner knowingly assisting in concealing proceeds or facilitating their use. Prosecution failed to establish petitioner's active involvement in laundering process. Continuing proceedings would constitute abuse of process. Discharge granted. en-us Wed, 03 Jul 2024 00:00:00 +0530 Sun, 15 Sep 2024 01:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457294 Karnataka HC allowed petition for discharge in money laundering case involving siphoning of KSAMB funds through forged documents and bank transfers. Court held that petitioner, not accused in scheduled offence, cannot be prosecuted under PMLA Section 3 without evidence of knowledge that transferred funds were crime proceeds. Citing SC precedent, court found no prima facie evidence of petitioner knowingly assisting in concealing proceeds or facilitating their use. Prosecution failed to establish petitioner's active involvement in laundering process. Continuing proceedings would constitute abuse of process. Discharge granted. Case-Laws Money Laundering Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457294