A retired IAS officer, who served as an additional secretary in the Uttarakhand government, has been arrested as part of a money laundering probe against him linked to alleged possession of disproportionate assets, the ED said on Saturday.
Ram Bilas Yadav was taken into custody under provisions of the Prevention of Money Laundering Act (PMLA) on Friday, the federal agency said in a statement.
The money laundering case stems from a vigilance establishment FIR registered in the past against Yadav for alleged possession of assets disproportionate to known sources of his income.
The Enforcement Directorate (ED) said it is alleged that during the check period — from 1-01-2013 to 31-12-2016 — Yadav earned Rs 78,51,777 through his known sources of income whereas his expenses are to the tune of Rs 21.40 crore.
“Therefore, he has been accused of amassing disproportionate assets to the tune of Rs 20.61 crore which is 2,626 per cent more than his known sources of legal income,” it said.
The ED said Yadav had purchased many lands and a flat, constructed a house in Lucknow, made a school and created a trust in his name and that of his family members by utilising the funds earned through “illegal” ways and “misusing” his position as a government servant in Uttar Pradesh and Uttarakhand.
