https://www.taxtmi.com/caselaws?id=759971 At the discharge stage under the Prevention of Money-Laundering Act, the Court examines only whether the complaint discloses prima facie material of involvement in laundering activity, not whether the prosecution will ultimately succeed. The complaint alleged that the accused was a trustee who participated in the trust's formation and functioning, entered into agreements and lease arrangements in that capacity, and knowingly assisted in acquisition, possession, use and projection of proceeds of crime as untainted property. Those allegations were held sufficient to resist discharge, and the claim of unilateral resignation was rejected for lack of supporting material and in light of the statutory regime governing trusteeship. en-us Fri, 04 Oct 2024 00:00:00 +0530 Mon, 14 Oct 2024 08:43:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759971 At the discharge stage under the Prevention of Money-Laundering Act, the Court examines only whether the complaint discloses prima facie material of involvement in laundering activity, not whether the prosecution will ultimately succeed. The complaint alleged that the accused was a trustee who participated in the trust's formation and functioning, entered into agreements and lease arrangements in that capacity, and knowingly assisted in acquisition, possession, use and projection of proceeds of crime as untainted property. Those allegations were held sufficient to resist discharge, and the claim of unilateral resignation was rejected for lack of supporting material and in light of the statutory regime governing trusteeship. Case-Laws Money Laundering Fri, 04 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759971