The Enforcement Directorate (ED) has placed a freeze on immovable properties valued at Rs 7.17 crore as part of an ongoing investigation into money laundering connected to narcotics trafficking. This action was taken by the agency’s Panaji Zonal Office as a result of findings under the Prevention of Money Laundering Act (PMLA), following a complaint from the Narcotics Control Bureau (NCB) in Goa.

The original complaint, filed on March 7, 2021, named several individuals, including Ugochukwu Solomon Ubabuko, Infinity John alias David, Valentine Ejezie, and Prasad Prakash Walke, in relation to offences under the Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act).

Seizures and Arrests Related to Drug Trafficking

According to the NCB, significant quantities of narcotics, including LSD, cocaine, charas, and ganja, were confiscated during searches at a property located in Assagao, Goa. Additionally, further investigations at the residence of Prasad Walke led to the recovery of LSD. Walke had previously been arrested by the NCB in 2018 and again by the Anti-Narcotic Cell of the Goa Police in 2023, with both arrests tied to different NDPS cases involving the seizure of MDMA, ecstasy, and hydroponic weed. He is currently in judicial custody.

Investigation Reveals Financial Channels for Illicit Drug Proceeds

The ED’s investigation uncovered that funds derived from illegal drug trafficking were funneled into the banking system through large cash deposits across multiple bank accounts held in the names of Prasad Prakash Walke and Sheetal Prasad Walke. This financial activity falls within the framework of money laundering offences as outlined in the PMLA.

Details of Attached Properties

The properties under attachment include a three-story residential building and two two-floored houses, all situated in Goa. These assets are registered under the names of Prasad Prakash Walke and Sheetal Prasad Walke and have been deemed Proceeds of Crime stemming from violations of the NDPS Act.

Commitment to Combat Drug Trafficking and Money Laundering

The Enforcement Directorate expressed its unwavering determination to fight against drug trafficking and the laundering of illicit proceeds by utilizing provisions under the PMLA and related statutes. As part of the Nasha Mukt Bharat Abhiyaan initiative, the ED aims to dismantle drug trafficking networks at their financial core. By targeting the laundering of money acquired from drug-related activities, the agency reinforces its commitment to India’s national goal of establishing a drug-free society.

Ongoing Efforts to Deter Illegal Drug Trade

The agency reiterated that such operations illustrate its ongoing efforts to combat the illegal drug trade. By tracking, identifying, and attaching assets derived from criminal activities, the ED seeks to deliver a strong message against drug-related crimes. The current actions are part of a broader strategy to deter such activities and promote a safer environment for the public.

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