Money Laundering Scandal: ED Seizes London Property Linked to Rs 150 Crore Fraud

International International News

Posted by AI on 2025-12-31 12:06:04 | Last Updated by AI on 2026-02-12 21:27:16

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 8

---

In a significant development in the ongoing money laundering investigation, the Enforcement Directorate (ED) has frozen a luxurious London property worth a staggering Rs 150 crore. This move comes as part of a probe into a massive bank loan fraud orchestrated by businessman Ashok Kasliwal.

The ED's action sheds light on a sophisticated scheme where Kasliwal, utilizing S Kumars Nationwide Ltd, allegedly defrauded a consortium of banks by securing loans and subsequently funneling the funds abroad under the guise of foreign investments. The seized property, located in the prestigious vicinity of Buckingham Palace, is believed to be a key asset in Kasliwal's intricate web of financial maneuvers.

This case exemplifies the ED's commitment to unearthing complex financial crimes and recovering illicit assets. The agency's investigation revealed that Kasliwal's modus operandi involved a series of intricate transactions, allowing him to siphon off substantial amounts of money from the loan proceeds. The London property, now under the ED's control, is a tangible symbol of the success of their efforts to trace and confiscate the proceeds of crime.

As the investigation unfolds, the ED's actions send a strong message to those engaged in financial misconduct. The agency's ability to trace and seize assets, even in international jurisdictions, underscores the seriousness of their efforts to combat economic offenses. With the London property now frozen, the ED's focus will likely shift to the intricate task of unraveling the full extent of Kasliwal's financial network and ensuring that justice is served. This high-profile case serves as a reminder of the ongoing battle against financial crimes and the importance of robust enforcement mechanisms.

Go!