Heathrow Heist: ED Attaches Rs 7.5 Crore Asset in London

An immovable asset near London's Heathrow Airport, worth Rs 7.5 crore, has been attached under anti-money laundering laws in a fraud case linked to Neo Corp International Ltd and its promoters. The Enforcement Directorate's action follows cases against companies involved in defrauding Indian banks.

The Enforcement Directorate (ED) has attached an immovable asset valued at Rs 7.5 crore, located near London's Heathrow Airport, as part of its investigation into an alleged bank loan fraud.

The asset is linked to Neo Corp International Ltd. and its directors, who are accused of defrauding the State Bank of India and Punjab National Bank.

The ED found a web of transactions involving dummy firms and illicit fund transfers to foreign jurisdictions under the guise of investments, aimed at camouflaging the proceeds of crime.