ED Attaches Over Rs 150 Crore Worth of Properties in Bank Fraud Case

ED Attaches Over Rs 150 Crore Worth of Properties in Bank Fraud Case

VoM News Desk | October 13, 2023 | 08:03 AM IST | Breaking News, Crime | Follow on Google News

ED Attaches Over Rs 150 Crore Worth of Properties in Bank Fraud Case

ED Attaches Over Rs 150 Crore Worth of Properties in Bank Fraud Case

The Enforcement Directorate (ED) has provisionally attached immovable properties worth over Rs 150 crore belonging to Vivekanand Shankar Patil, a four-time MLA from Panvel, and his relatives in connection with a bank fraud case. The attached properties include vast land, a bungalow, a residential complex, and more. The total attachment in this case stands at nearly Rs 386 crore. The ED initiated the investigation based on an FIR registered by the Economic Offence Wing (EOW) of Mumbai Police in 2019. The fraud was uncovered after an audit revealed that Patil was siphoning off funds from the bank through fictitious loan accounts.

Key Points:

• The ED has provisionally attached immovable properties worth over Rs 150 crore in connection with a bank fraud case involving Vivekanand Shankar Patil and his relatives.
• The attached properties include vast land, a bungalow, a residential complex, and more, with a total attachment of nearly Rs 386 crore.
• The ED initiated the investigation based on an FIR registered by the Economic Offence Wing (EOW) of Mumbai Police in 2019.
• The fraud came to light after an audit revealed that Patil was siphoning off funds from the bank through fictitious loan accounts to the loan accounts of Karnala Charitable Trust and Karnala Sports Academy, controlled by Vivekanand Patil.

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