A prosecution complaint by the ED is like a charge sheet filed by the police.
The ED, based on a CBI FIR, had lodged a case under the PMLA Act against Iqbal on June 12, 2019.
ED probe revealed that by way of BSS Associates Private Limited property, Iqbal acquired proceeds of crime to the tune of Rs 54. 21 crore.
The probe agency prayed for confiscation of Iqbal’s land situated in Dehradun in the special court.
The ED investigation conducted against Iqbal led to identification of immovable properties (seven sugar mills).
“The tainted money generated through illegal mining activities was laundered through various legal entities, under the control of Iqbal and his family members, which were incorporated or acquired off the shelf through various persons including self-acknowledged entry operators,” an agency spokesman said.
These entities through a set of fictitious and sham transactions under the control of Iqbal and others were used as a front for converting tainted money to acquire assets.
In this process, Iqbal, through controlled shell companies, indulged in commission of offences like cheating under the Companies Act.
Charges of criminal conspiracy with forgery for the purpose of cheating have been invoked against Iqbal controlled companies, the ED said.
In 2021, the ED had attached seven sugar mills owned by former MLC valuing about Rs 1,097 crore underthe PMLA Act.
In 2019, the CBI had also booked the sons of the former MLC, Wajid and Javed, in connection with the sale of 21 state-owned sugar mills in 2011-12 by the former Mayawati regime causing a loss of Rs 1,800 crore to state exchequer.
Iqbal, currently elusive, carries a reward of Rs 1 lakh on any information leading to his arrest by the Uttar Pradesh Police and is named in 35 cases.
Four of his five sons are in jail.
–IANS
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