Dr. Farooq Abdullah’s Assets Worth ₹ 12 Crore Seized In Money Laundering case
19-12-2020: National Conference President Dr.Farooq Abdullah’s Assets worth ₹ 11.86 crore have been attached by the Enforcement Directorate in connection with the Jammu and Kashmir Cricket Association (JKCA) in a money laundering case, the agency said on Saturday.
The Enforcement Directorate, which investigates financial crimes, is looking into money-laundering allegations connected to the J&K cricket body. The CBI had in 2018 filed a charge sheet against Mr. Abdullah, a National Conference MP, and three others, for alleged misappropriation of ₹ 43.69 crores between 2002-11.
The Enforcement Directorate claimed it has found that between 2006 and 2012, Mr Abdullah misused his position to launder JKCA funds. More than ₹ 45 crores appear to have been siphoned off including large cash withdrawals, it said.
Assets attached include three residential and one commercial property and four plots of land in Jammu and Kashmir. While the book value of these attached properties is ₹ 11.86 crore, their market value is about ₹ 60-70 crore, as per the agency reports.
Mr Abdullah, who was questioned twice in Srinagar in the case in October, and his party have linked the investigation to the recent move by the 83-year-old to bring together all Jammu and Kashmir parties in a campaign for restoring special status.
Former Chief Minister Omar Abdullah, refuted the agency’s charges and said the seizures would be challenged in court. (with AGENCIES Reports)
My father has seen the media reports regarding attachment of his properties in the ongoing investigation in to the JKCA matter. Not surprisingly the media was tipped off regarding the seizure before he had received any official notice or documentation.
— Omar Abdullah (@OmarAbdullah) December 19, 2020
Attachment of Dr Farooq’s properties political vendetta: NC
Full statement here:https://t.co/b79EaR7wn9 pic.twitter.com/EzpR7akCbk
— JKNC (@JKNC_) December 19, 2020
