MANIPUR :Assets of a former project director in Manipur government have been seized by the ED in alleged link with embezzlement of government funds. The ED had launched an investigation against Y Ningthem Singh based on a case registered by the Imphal West Police.
The Enforcement Directorate has attached immovable and movable assets worth Rs. 3.12 crore. It came into light that, Ningthem along with few of his associates was linked with a disproportionate assets case registered under Prevention of Money Laundering Act.
''We have united both movable and immovable assets belonging to Ningthem Singh and his partners in connection with a money laundering case, which is related to a huge fund misuse of Manipur Development Society (MDS)'' says a ED spokesperson.
According to the ED, a massive amount was looted by Y Ningthem Singh and his fellow associates from the account of Manipur Development Society. The funds were embezzled and was transferred from MDS main account to several different shell firms' account and other individual's accounts. He further added that, Ningthem and his fellow partners had obtained various properties in different locations through this money. They had directly diverted the looted money into properties with different names.
According to the officials, six immovable properties of an amount of Rs. 3.04 crore and a cash of Rs. 8,20.000 kept in different bank accounts of Y Ningthem Singh have been attached by the ED. These bank accounts are now frozen.
Eleven bank accounts were frozen by the ED in November 2021 with a balance amount Rs. 41,53,489. The case of money laundering has its roots from September 2017 where a FIR was filed by the state police against MDS officials worth Rs. 169 crore or more. The Imphal West Police claims that the accused had laundered funds of more than Rs. 169 crore.
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