https://www.taxtmi.com/caselaws?id=774013 The Appellate Tribunal under SAFEMA dismissed an appeal challenging a provisional attachment order under PMLA. The case involved fraudulent Letters of Undertaking (LOUs) where proceeds of crime were laundered through overseas entities. The property owner's husband was found instrumental in establishing a complex layering scheme using dummy companies across Dubai and Hong Kong to camouflage fraudulent transactions. Investigation revealed diversion of USD 26.9 million through these entities and misappropriation of 50 kg gold worth approximately INR 150 million. The property transfer to the appellant wife was deemed an attempt to conceal proceeds of crime from authorities. The tribunal found sufficient grounds for attachment and rejected natural justice violation claims. en-us Mon, 30 Jun 2025 00:00:00 +0530 Wed, 02 Jul 2025 08:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774013 The Appellate Tribunal under SAFEMA dismissed an appeal challenging a provisional attachment order under PMLA. The case involved fraudulent Letters of Undertaking (LOUs) where proceeds of crime were laundered through overseas entities. The property owner's husband was found instrumental in establishing a complex layering scheme using dummy companies across Dubai and Hong Kong to camouflage fraudulent transactions. Investigation revealed diversion of USD 26.9 million through these entities and misappropriation of 50 kg gold worth approximately INR 150 million. The property transfer to the appellant wife was deemed an attempt to conceal proceeds of crime from authorities. The tribunal found sufficient grounds for attachment and rejected natural justice violation claims. Case-Laws Money Laundering Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774013