https://www.taxtmi.com/caselaws?id=777579 AT upheld retention of frozen bank accounts, dismissing appeals. Tribunal found the company and its director operated a fraudulent MLM/Ponzi scheme as a franchise of an international entity, routed funds through sham product purchases and benami firms, and diverted proceeds through related companies and personal accounts. Investigations recovered incriminating material; appellants failed to satisfactorily disclose sources of banked funds under s.8(1) of the Prevention of Money-Laundering Act and admissions under s.50 corroborated involvement in money-laundering. Trial continuation justified and freezing of accounts maintained. en-us Mon, 04 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777579 AT upheld retention of frozen bank accounts, dismissing appeals. Tribunal found the company and its director operated a fraudulent MLM/Ponzi scheme as a franchise of an international entity, routed funds through sham product purchases and benami firms, and diverted proceeds through related companies and personal accounts. Investigations recovered incriminating material; appellants failed to satisfactorily disclose sources of banked funds under s.8(1) of the Prevention of Money-Laundering Act and admissions under s.50 corroborated involvement in money-laundering. Trial continuation justified and freezing of accounts maintained. Case-Laws Money Laundering Mon, 04 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777579