US Club Money Laundering Case: ED Attaches Properties Worth ₹13.44 Crore Across Mumbai, Goa, Madhya Pradesh

The Enforcement Directorate (ED) has attached 13 properties, worth around Rs 13.44 crore, in Mumbai, Goa, and Madhya Pradesh, according to the agency. These assets, under the Prevention of Money Laundering Act (PMLA), belong to Bernadette Bharat Varma, her husband Bharatkumar Shankarlal Varma, and others. The ED alleges that Bernadette Varma, in collaboration with her husband, diverted funds from the United Services (US) Club through fictitious and dummy bank accounts resembling those of regular vendors.

Around Rs 77 crore, identified as Proceeds of Crime (PoC), was transferred to these accounts, which were then utilized by the couple to purchase immovable properties and park funds in fixed deposits. The ED's investigation into the money laundering case began following an FIR registered by Mumbai Police under the Bharatiya Nyaya Sanhita (BNS), 2023.

The probe also uncovered an alleged diversion of approximately Rs 11 crore through a trust named the Jyotirgamay Foundation. This capital was transferred to the foundation's bank accounts before being funneled to entities associated with Chandra Prakash Pandey, his family members, and firms controlled by him, as well as other related persons.

Pandey worked as a Chartered Accountant for the US Club during the period under investigation. In March, the ED previously attached 35 properties valued at approximately Rs 34.51 crore, also linked to the same embezzlement scandal. The ED stated that ongoing investigations are underway to trace the complete money trail, the ultimate utilization of the PoC, and the identification of additional beneficiaries.