Former union minister and expelled leader MK Alagiri’s son Dayanidhi Alagiri was linked in the case of attachment of properties worth Rs.40 crore to a firm of which he is the director, promoter and share-holder.
Enforcement Directorate on Wednesday filed a case against Dayanidhi Alagiri, son of former Union Minister and DMK leader MK Alagiri for handling properties worth Rs.40 crore linked to a granite firm under him.
“Investigation under PMLA revealed that M/s. Olympus Granites Private Limited and its promoters /shareholders/directors have committed a Scheduled Offence and derived proceeds of crime by indulging in the illegal quarrying and the trade proceeds of the Company derived therefrom were relentlessly incubated and thereby resulting in further accruals of proceeds of crime, all of which were camouflaged in the organisational system as business income/earnings, although gained out of the said illegal activity,” read ED’s statement. The properties were listed for investigation under Prevention of Money Laundering Act (PMLA) by the Enforcement directorate.
The ED has attached 25 movable and immovable properties with the company that involves land and buildings in Madurai apart from fixed deposits worth 30.34 crores.
“S Nagaraj and Dayanidhi Alagiri, along with other accused, criminally conspired and indulged in illegal mining activities in the TAMIN leased land, causing loss to the government and wrongful gain to parties involved,” said ED.
The police personnel of the state have mentioned that an FIR has been filed against the company in the case. “Investigation has revealed that Olympus and its promoters have committed a Scheduled Offence,” claims ED in its statement.