Navi Mumbai: Special judge Ashokkumar B Bhillare in Alibaug committed the Pen Cooperative Urban Bank scam
case to a Prevention of Money Laundering Act (PMLA) court in Mumbai after a plea by Enforcement Directorate (ED). The Rs 758-crore scam had come to light in September 2010. ED had lodged a case on September 30, 2013, to probe money laundering. It invoked Section 44 (1) (c) of PMLA, which states that if a court that has taken cognisance
of the offence is other than the special court, it will commit the case on receipt of an application from ED.
ED’s counsel had told the special judge in Alibaug the accused had diverted investors’ funds illegally through bogus, forged and fake loan accounts to acquire immovable properties
worth Rs 270 crore, so it should be tried under PMLA.
Special public prosecutor Vaibhav Bhole said, “It was jointly decided to try the case in a PMLA court. Hence, no objection was made. The order was thus…