ED seizes assets worth Rs 4.69 crore in J&K fake arms licences case

The Enforcement Directorate (ED) has seized assets worth Rs 4.69 crore in connection with the fake arms licences case in J&K according to sources.

Bank balances, plots, flats, and residential houses are among the assets attached. On the basis of FIRs filed by the Central Bureau of Inquiry (CBI) against various serving and retired bureaucrats, government officials, and arms and ammunition dealers in Jammu and Kashmir, the ED launched a money laundering investigation.

The ED claims that J&K government officials, in connivance with various arms dealers and brokers in the state, disobeyed the norms, protocol, and rules for issuing arms licences. According to the agency, the officials did this for monetary gain by abusing their official position as public servants and generating a large amount of proceeds of crime.