While the first conviction was in 2019, the latest of the six was obtained by a special PMLA Chennai court in September 2024. A few more related cases are still at the trial stage.
The probe is significant for multiple reasons; firstly, ED got the convictions even before investigation of the predicate offences of forgery, impersonation and cheating were completed by the Greater Chennai Police and CBI. Secondly, one of those convicted by the PMLA court was not even an accused in the predicate offence booked by Chennai police.
During trial, ED not only proved money laundering, but produced evidence to also establish the charges of forgery, impersonation and cheating. These points passed the judicial test even in the Madras High Court, establishing PMLA as a standalone offence.
This led to the cases emerging as a case study across India and in meetings of the Financial Action Task Force (FATF), sources said.
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