The Directorate of Enforcement (ED), Ahmedabad Zonal Office, has provisionally attached assets worth Rs. 6.80 crore under the Prevention of Money Laundering Act (PMLA), 2002, in an ongoing investigation against Chartered Accountant Tehmul Sethna.
The attached assets include one bungalow and two open plots located in Ahmedabad.
The action stems from an FIR registered by the Navarangpura Police Station, Ahmedabad, which accused Sethna of criminal conspiracy, cheating, and forgery. According to the FIR, Sethna was managing the affairs of a trust named Environment Research & Development Centre, which was established for executing humanitarian and welfare initiatives.
ED’s probe has revealed that Sethna misused his position by unauthorizedly withdrawing Rs. 6.85 crore from the trust’s bank account. These withdrawals were allegedly carried out by forging the signatures of the trustees—without their knowledge or consent.
The investigation further uncovered that the misappropriated funds were routed through a complex web of individuals and entities, many of which were either directly or indirectly under Sethna’s control. This maze of transactions was allegedly crafted to obscure the origin of the money and project the proceeds of crime as legitimate income.
The ED has stated that the provisional attachment of assets is aimed at securing the value of the alleged proceeds of crime while the investigation continues.
Further investigation is underway, and more attachments or prosecutions could follow as the financial trail is further examined.
Read More: ED Notifies Additional Special Courts To Fast-Track PMLA Trials Across States
