Ranjit Singh Kandola Sentenced to 9 Years in Jail for Money Laundering
A special court in Jalandhar has sentenced Ranjit Singh Kandola to nine years in prison and fined him Rs 1 lakh for money laundering. His wife, Rajwant Kaur Virk, received a three-year sentence and a Rs 25,000 fine. Their son, Bally Singh, was acquitted of the charges.
The court also ordered the confiscation of assets worth Rs 5.94 crore linked to the Kandola family. These assets were attached by the Enforcement Directorate (ED) in 2013.
The case was investigated by the ED under the Prevention of Money Laundering Act (PMLA). The investigation began based on an FIR registered against Ranjit Singh Kandola, his wife Rajwant, and their son Bally at the Kartarpur Police Station. The FIR included charges under the NDPS Act and the Arms Act. In 2015, the ED filed a chargesheet under the PMLA against the Kandola family.
Doubts Revealed
Money Laundering -: Money laundering is when people try to hide where their money came from, usually because it was earned in illegal ways. They make it look like the money came from a legal source.
Special Court -: A special court is a type of court that deals with specific types of cases, like money laundering. It has judges who are experts in those areas.
Jalandhar -: Jalandhar is a city in the state of Punjab, India. It is known for its sports industry and historical places.
Rs 1 lakh -: Rs 1 lakh means 100,000 rupees. In India, ‘lakh’ is a term used to represent 100,000.
Confiscation of assets -: Confiscation of assets means taking away property or money that was gained through illegal activities. The government takes it away to prevent the criminals from using it.
Enforcement Directorate -: The Enforcement Directorate (ED) is a government agency in India that investigates financial crimes like money laundering. They make sure people follow the laws about money.
Prevention of Money Laundering Act (PMLA) -: The Prevention of Money Laundering Act (PMLA) is a law in India that helps the government catch and punish people who are involved in money laundering. It was made to stop illegal money activities.