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THe Enforcement board of directors on sun said it has committed assets charles frederick worth thomas more than ₹1,023 crore, including properties located in Singapore, in an alleged illegal iron ore mining case in Goa.A provisional order has been issued on June 19 under the Prevention of Money Laundering Act (PMLA) in the matter pertaining to large-scale illegal iron ore mining by the Salgaocar Groups and associates (AVS Group), the central agency said in a statement.The attached assets include 99 immovable properties located in India ( ₹459.10 crore), 31 immovable properties in Singapore ( ₹471.32 crore) and equity shares in Indian companies ( ₹93.42 crore) held in the names the Estate of Late Anil Salgaocar (through its administrator Lakshmi Anil Salgaocar), Salgaocar Mining Industries, Shantilal Khushaldas & Brothers, S Kantilal & Co., Salitho Ores, Vertex Newton Projects. And Subarnarekha Port, according to the ED.Also Read: ₹3,000-cr fake GST, cash withdrawal fraud in Fatehgarh Sahib; 5 booked">ED unearths ₹3,000-cr fake GST, cash withdrawal fraud in Fatehgarh Sahib; 5 bookedThe total value of the assets is ₹1,023.85 crore.ED tracks Goa mining money trailThe money laundering investigation stems from a FIR of the Goa Police CID. The ED said the Supreme Court, through its judgements in 2014 and 2018, has held that all mining undertaken in Goa after 22.11.2007 (till issue of fresh mining leases) was illegal.The agency alleged that its probe found AVS Group operated ten mining leases during 2007-12 and generated proceeds of crime of ₹2,492.95 crore from the illegal extraction, sale and export of iron ore.The "illegally" mined ore was exported at "grossly undervalued" prices to shell entities (special purpose vehicles) incorporated in the British Virgin Islands, which acted as mere paper intermediaries and resold the ore to China, generating further offshore trade profits of ₹2,744.89 crore.Also Read: ED raids 10 locations in Kerala's Kochi in human organ trade caseThe total proceeds of crime are calculated at ₹5,237.84 crore, as per the agency."These funds were layered through BVI and Singapore-based SPVs, utilised to acquire substantial movable and immovable assets abroad, and partly routed back into India in the guise of share capital," the ED alleged.

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Goa 'illegal' iron ore mining case: ED attaches assets worth over ₹1,000 crore

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