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PMLA, A law to shatter the accused both financially and physically, Article by Advocate Deepak Choudhary

PMLA 2002 a simple walk through by Advocate Deepak Choudhary

PMLA 2002 a simple walk through by Advocate Deepak Choudhary

PMLA, a law which not only shatters an accused of Money Laundering financially by attachment of all the moveable and immoveable property but physically also by sending the accused behind the bars.

Not only the accused comes within the purview of this Prevention of Money Laundering Act,2002 but also those persons who have directly or indirectly have enjoyed that proceeds of crime in any manner comes under the scanner and if any incriminating evidence found against them than their properties which they accrued from that proceeds of crime will be liable to be attached or be confiscated subject to the discretion of the court.

An enactment of this Prevention of Money Laundering Act gave a leverage to the Central Government to recover all the losses incurred to it by the accused who commits an offence of money laundering.

The first hit on the backbone of an accused occurs when Enforcement Directorate(ED) attaches the properties of an accused by presuming that the accused has procured such movable or immovable property by committing an offence listed in the schedule of this act and ED perceives such property of that accused as a proceeds of crime.

Then the prosecution takes place simultaneously against that accused which is based on the complaint filed by ED in the Court having the original jurisdiction in such cases. The gravity of sentence in the offence of money laundering is subject to the predicate offences listed in the schedule which has a maximum sentence upto seven years.

An article by Advocate Deepak Choudhary 

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