https://www.taxtmi.com/caselaws?id=764087 The Appellate Tribunal under SAFEMA upheld the attachment of properties in a money laundering case involving misappropriation of funds through conspiracy with government officials. The Tribunal rejected appellant's arguments that properties acquired before the alleged crime could not be attached, ruling that equivalent value properties can be attached when original proceeds are siphoned off through layering. The provisional attachment order did not lapse despite exceeding 180 days due to COVID-19 period exclusion. The Tribunal found properties were connected to crime proceeds through financial transactions and upheld the validity of the scheduled offence. Appeals were dismissed. en-us Thu, 05 Dec 2024 00:00:00 +0530 Fri, 03 Jan 2025 08:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764087 The Appellate Tribunal under SAFEMA upheld the attachment of properties in a money laundering case involving misappropriation of funds through conspiracy with government officials. The Tribunal rejected appellant's arguments that properties acquired before the alleged crime could not be attached, ruling that equivalent value properties can be attached when original proceeds are siphoned off through layering. The provisional attachment order did not lapse despite exceeding 180 days due to COVID-19 period exclusion. The Tribunal found properties were connected to crime proceeds through financial transactions and upheld the validity of the scheduled offence. Appeals were dismissed. Case-Laws Money Laundering Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764087