CHENNAI: The Enforcement Directorate (ED) on Thursday said it has provisionally attached 158 properties valued at around Rs 37.79 crore under the Prevention of Money Laundering Act (PMLA).
In a statement issued here, the ED said the properties belong to C. Periyakaruppan , K. Balakrishnan, P.T. Subiah and their family members running Kumar Granites and Kumar Exports in the alleged granite mining scam in Madurai.
The ED said an investigation is underway under the PMLA against various firms/companies in connection with the scam and against whom first information report has been registered and two charge sheets filed by police in a court in Melur near Madurai.
According to the ED, it conducted investigations under the PMLA against both firms to identify the crime proceeds, wherein it was found that Periyakaruppan, Balakrishnan and Subiah were running the two firms and entered into a criminal conspiracy with others to illegally quarry multi-colour granite stones from non-leased government land.
They also allegedly forged and fabricated documents for illegally transporting the granite blocks to cheat statutory authorities and to camouflage their illegal earnings, the ED said.
The accused had acquired immovable properties by utilising the crime proceeds in their names individually and jointly and also in the names of their sons, the agency said.