The Enforcement Directorate (ED) has reportedly attached the assets of National Conference Chairperson Farooq Abdullah in a money laundering case. Abdullah’s assets worth Rs 11.86 crore have been attached by the ED in relation to Jammu and Kashmir Cricket Association (JKCA) money laundering case. The ED has issued a provisional attachment order to Abdullah under the Prevention of Money Laundering Act (PMLA) and attached his properties located in Jammu and Srinagar.
Enforcement Directorate (ED) attaches properties of Dr Farooq Abdullah valued around Rs 11.86 crores under PMLA in connection with the laundering of funds of Jammu & Kashmir Cricket Association (JKCA): ED pic.twitter.com/ostl8SQYYM— ANI (@ANI) December 19, 2020
According to reports, the attached properties include residential properties, one commercial property and three plots of land. The properties are located in Srinagar and other places in Jammu and Kashmir. The market value of the assets is estimated to be 60-70 crore.
The attached properties include three residential houses, one at Gupkar Road, Srinagar; one at Tehsil Katipora, Tanmarg, & one at Bhatindi in Jammu); commercial buildings at posh Residency Road area of Srinagar: ED https://t.co/MhbNetJ0pz— ANI (@ANI) December 19, 2020
J&K Cricket Association Money Laundering Case
Former J&K Chief Minister Abdullah has been questioned by the ED on multiple occasions in relation to the money laundering case. Abdullah allegedly misused his position as the President of the J&K Cricket Association by making illegal appointments and granting financial powers to those appointees for the purpose of laundering funds.
B/w 2005-2006 to 2011, JKCA received funding totalling to Rs 109.78 crores from BCCI. B/w 2006 & Jan 2012, when Abdullah was JKCA chief, he misused his position &clout by illegal appointments of office bearer to whom he gave financial powers for purpose of laundering of funds: ED— ANI (@ANI) December 19, 2020
Rs 43 crore was allegedly siphoned off from the JKCA during Abdullah’s tenure as its President. The amount misappropriated came from a fund of Rs 113 crore provided by the Board of Control for Cricket in India (BCCI) to promote cricket in the State. In 2015, the J&K High Court had transferred the case to the Central Bureau of Investigation (CBI) indicting the state police for failing to carry out the investigation properly. As per allegations, Abdullah was complicit in grabbing approval to operate two bogus accounts of JKCA. These accounts has allowed one accused Ahsan Mirza to remain in control of finances of the sports body even after he ceased to be a treasurer after the 2011 elections.
The CBI had filed a charge sheet in July last year naming Abdullah and three others in the embezzlement of the BCCI funds through the JKCA.