https://www.taxtmi.com/caselaws?id=774731 Public funds collected through a fraudulent investment scheme and diverted through group entities can be treated as proceeds of crime when traced into immovable assets. The tribunal found a sufficient nexus between the attached properties and the alleged scheduled offences, and held that the assets were not shown to be untainted. It also held that once the enforcement case established the statutory foundation, the burden shifted to the appellant to prove legitimate acquisition, which was not discharged because the claim of personal loans lacked documentary support. The provisional attachment was further upheld because the record disclosed the requisite reason to believe that the properties could be dealt with to frustrate confiscation. en-us Mon, 26 May 2025 00:00:00 +0530 Mon, 14 Jul 2025 08:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774731 Public funds collected through a fraudulent investment scheme and diverted through group entities can be treated as proceeds of crime when traced into immovable assets. The tribunal found a sufficient nexus between the attached properties and the alleged scheduled offences, and held that the assets were not shown to be untainted. It also held that once the enforcement case established the statutory foundation, the burden shifted to the appellant to prove legitimate acquisition, which was not discharged because the claim of personal loans lacked documentary support. The provisional attachment was further upheld because the record disclosed the requisite reason to believe that the properties could be dealt with to frustrate confiscation. Case-Laws Money Laundering Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774731