BHUBANESWAR: Officers of the Enforcement Directorate (ED) located land worth more than Rs 1 crore belonging to the Seashore Group. "We spotted the huge patch at Ainthapalli in Sambalpur district. The owner is Seashore Group chief, Prashant Dash," said an ED officer.
The group is allegedly involved in a Rs 1500-crore fraud that is being probed by the CBI.
"We have information about the group owning some real estate properties in Bhubaneswar and Cuttack. We are verifying it. Bank accounts of the company, its employees and relatives of Dash are being verified," the officer said.
On December 3, the ED attached the company's asset worth over Rs 158 crore. ED would go for second round of attachment after spotting more Seashore properties.
Seashore Group bought a staggering 150 kg to 200 kg of gold from Metals and Minerals Trading Corporation (MMTC), a Government of India undertaking during 2011-12 for gold trading. The economic offences wing (EOW) of the Crime Branch, which was investigating into Seashore Group fraud, recovered only 1.38 kg of gold ingots from the company's bank locker last year.
"Large quantities of gold and silver bought by the company are still untraceable," the officer said.
CBI sources said Seashore Group had a gold trading licence and used to buy the precious metal from Odisha and Visakhapatnam. The group used the bullion in different schemes.
ED officials said Dash, who was in their remand for 14 days in September and October, concealed details of his properties. While the state government attached over 204 acre land of Seashore Group, the ED attached nearly 90 acre in Angul, Bhadrak, Mayurbhanj and Puri districts. ED also attached 10 flats, three of which were located by Crime Branch.
Two Seashore factories in Mayurbhanj and Khurda and a corporate office in Bhubaneswar were also attached by the ED. Though the state government on December 2, 2013 attached some Seashore properties, trial in these cases would be transferred to the ED's designated court (Khurda district and sessions court).
While Odisha Protection of Interest of Depositors (in Financial Establishments) Act has the provision to liquidate the attached properties for auction, the Prevention of Money Laundering Act (PMLA) does not ensure restitution of money to the duped investors.