ED Issues Notice to Vacate 24 Attached Properties in ₹3 Crore PMLA Case

The Goa unit of the Enforcement Directorate (ED) has issued notices directing occupants to vacate 24 immovable properties that were provisionally attached in connection with an alleged fraudulent investment scheme. The properties, collectively valued at approximately ₹3 crore, were attached under the provisions of the Prevention of Money Laundering Act (PMLA).

Allegations of Fraudulent Investment Schemes

According to the ED, the action stems from an ongoing investigation into financial irregularities allegedly carried out by Myron Rodrigues and his associates. The accused are suspected of operating fraudulent investment schemes that promised high returns to investors but allegedly diverted the collected funds for personal gain.

Investigators claim that multiple individuals were induced to invest substantial amounts with assurances of lucrative profits. However, when promised returns failed to materialize, complaints were filed, prompting a deeper financial probe.

Attachment of Properties

As part of the money laundering investigation, the ED provisionally attached 24 immovable assets believed to be “proceeds of crime.” These include residential units, plots, and other properties allegedly purchased using funds generated through the suspected fraudulent schemes.

Officials stated that the attachment aims to prevent the sale, transfer, or disposal of assets during the course of the investigation. The recent notices to vacate are intended to secure physical possession of the properties in accordance with legal procedures under the PMLA.

Legal Process Underway

Under the PMLA framework, provisional attachment orders must be confirmed by the Adjudicating Authority. The accused parties have the right to present their defense during adjudication proceedings.

If confirmed, the properties may eventually be confiscated by the government upon conclusion of trial, subject to court orders.

Ongoing Investigation

The ED has indicated that the probe remains active and that further financial scrutiny is underway to trace additional assets, if any, linked to the alleged proceeds of crime. Officials have not ruled out the possibility of additional attachments or summonses as the investigation progresses.

Impact on Investors

Authorities have advised affected investors to cooperate with investigative agencies and provide relevant documentation to assist in establishing claims. The case has drawn attention to the risks associated with unregulated investment schemes promising unusually high returns.

The latest action signals the agency’s continued crackdown on financial fraud and money laundering activities in Goa, with a focus on safeguarding investor interests and ensuring accountability under the law.