ED attaches Rs 34.51 crore worth properties in Mumbai PMLA case

Mumbai, March 23 (IANS) The Directorate of Enforcement (ED) has provisionally attached 35 movable and immovable properties worth Rs 34.51 crore in a money laundering case in Mumbai, an official statement said on Monday.

The attached assets include flats, shops, and fixed deposits allegedly linked to Bernadette Bharat Varma, Bharatkumar Shankarlal Varma, and others.

The action was taken by the ED’s Mumbai Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA),2002.

The ED initiated its investigation based on an FIR registered on February 25, 2025, by the Cuffe Parade Police Station under various sections of the Bharatiya Nyaya Sanhita (BNS), 2023.

According to the agency, Bernadette Bharat Varma, who served as Deputy Secretary (Finance) of the United Services Club, in alleged connivance with her husband, created multiple fake bank accounts in names resembling those of genuine vendors of the club.

Through these accounts, funds amounting to approximately Rs 77 crore were allegedly siphoned off from the United Services Club.

The ED said the diverted funds, classified as proceeds of crime, were subsequently routed to the personal and joint bank accounts of the accused, their family members, and associates. It said the money went to dummy Bank accounts in the name of Vendors of the US Club, Bank accounts of Bernadette Varma and Bharat Varma, Jyotirgamay Foundation (Trust), and others.

Investigations further revealed that the accused used the crime proceeds to acquire several immovable properties and invested a portion in fixed deposits across various banks.

Additionally, around Rs 11 crore was allegedly transferred to the account of M/s Jyotirgamay Foundation (Trust). The funds were later routed to accounts linked to Chandra Prakash Pandey, his family members, and firms controlled by him. Pandey was reportedly associated with the United Services Club as a Chartered Accountant.

Further investigation in the case is underway.

--IANS

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