https://www.taxtmi.com/caselaws?id=765200 The Appellate Tribunal under SAFEMA dismissed appeals challenging provisional attachment orders in a money laundering case involving large-scale illegal extortion. The Tribunal rejected appellants' claims that no predicate offence existed, finding the Supreme Court's bail order in a related case was based on prolonged incarceration, not merit. Despite appellants claiming to be bonafide purchasers, they failed to disclose sources for acquiring 52 properties through cash deposits without proper documentation. The Tribunal held that properties acquired prior to FIR registration could still be attached if proceeds were layered or siphoned off, and that victims of extortion who failed to report crimes could not claim innocence. The provisional attachment order was confirmed. en-us Thu, 05 Dec 2024 00:00:00 +0530 Tue, 28 Jan 2025 08:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765200 The Appellate Tribunal under SAFEMA dismissed appeals challenging provisional attachment orders in a money laundering case involving large-scale illegal extortion. The Tribunal rejected appellants' claims that no predicate offence existed, finding the Supreme Court's bail order in a related case was based on prolonged incarceration, not merit. Despite appellants claiming to be bonafide purchasers, they failed to disclose sources for acquiring 52 properties through cash deposits without proper documentation. The Tribunal held that properties acquired prior to FIR registration could still be attached if proceeds were layered or siphoned off, and that victims of extortion who failed to report crimes could not claim innocence. The provisional attachment order was confirmed. Case-Laws Money Laundering Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765200