GANGTOK, March 7: The Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs 65.46 crore in connection with a money laundering case involving a former general manager-ranked officer of a Sikkim-based bank.
The ED said in a statement that the attached assets include four residential properties and land parcels located in Deorali, Syari, Ranipool and Penlong – all in Sikkim.
These properties were allegedly acquired using proceeds from fraudulent activities linked to siphoning of funds from the State Bank of Sikkim (SBS) by Dorjee Tshering Lepcha, its former general manager (operations).
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Additionally, several bank accounts with a combined deposit of approximately Rs 53.41 crore in the names of Lepcha and his family members have also been frozen, the statement said.
These actions are parts of an ongoing investigation into the misappropriation and laundering of funds from the bank under the Prevention of Money Laundering Act (PMLA), 2002.
Established in 1968, the SBS is an autonomous body under the Sikkim government and it is responsible to handle the treasury function of the state, according to the bank’s website.
The statement added that that investigation followed an FIR registered by the Crime Investigation Department (CID).
ED’s findings revealed that Lepcha allegedly orchestrated a large-scale fraud by creating a fictitious bank account under the name “AE Roads and Bridges Department, Government of Sikkim.”
Funds were illegally credited to this account by manipulating documents maintained for transactions involving two public sector banks.
The statement said the misappropriated funds were then diverted to personal accounts belonging to Lepcha and his associates.
The ED last month conducted multiple searches at properties linked to Lepcha, and seized documents related to various property purchases.
The investigation is ongoing, with authorities continuing to follow leads and gather evidence against Lepcha and others involved in this extensive fraud it states. (PTI)
