INDIA. Mumbai: In a recent development, the PMLA Court in Lucknow has sentenced two individuals to three years of rigorous imprisonment and imposed a fine of Rs 50,000 each.
The convictions are a result of charges related to obtaining loans amounting to Rs 2.87 crore from the Central Bank of India and Allahabad Bank by fraudulent means, involving forged “Kisan Vikas Patra.”
According to an official statement from the Enforcement Directorate, the convicted individuals have been identified as Vishal Sharma, also known as Shivash Pathak, and Naim Khan, who is sometimes referred to as R K Mishra.
Notably, their assets, which include flats, shops, residential houses, and agricultural land with a total value of Rs. 2.87 crore, were seized on March 17, 2018. Following this, a Prosecution Complaint was filed under section 45 of the Prevention of Money Laundering Act (PMLA) on the same date against four individuals, including Vishal Sharma and Naim Khan.
The fraudulent scheme involved the acquisition of “Kisan Vikas Patra” certificates, which were procured from the post office using counterfeit identification and addresses.
The Enforcement Directorate initiated its investigation based on four FIRs registered by the Central Bureau of Investigation (CBI) in Lucknow, under various sections of the Indian Penal Code (IPC) of 1860, targeting various individuals, including the two now-convicted persons.
The FIRs alleged that Vishal Sharma and Naim Khan, along with accomplices, including postal employees, conspired to deceive the Central Bank of India and Allahabad Bank by securing loans totaling Rs 2.87 crore against forged “Kisan Vikas Patra” certificates, using fake identities and addresses.
During the trial, the accused admitted their guilt in the money laundering offenses. Consequently, Special Judge Ajay Vikram Singh found them guilty under sections 3 and 4 of the PMLA and ordered their detention in the District Jail, Lucknow. The trial against other accused individuals is still ongoing.
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