 "Enforcement Directorate")
A special court in Bengaluru has convicted a former official of the ministry of chemical and fertilisers and his wife on money laundering charges for siphoning more than Rs 1.25 crore from the funds of the Central Institute of Petrochemicals Engineering and Technology, the ED said on Friday.
The designated PMLA court "convicted H N Arvind and Binu H Arvind for offences committed under the Prevention of Money Laundering Act and sentenced H N Arvind to rigorous imprisonment for a period of four years along with imposition of fine of Rs 1 lakh."
"The court also sentenced Binu H Arvind to rigorous imprisonment for a period of three years along with imposition of fine of Rs 50,000," the Enforcement Directorate said in a statement.
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The money laundering case stems from an earlier CBI FIR that charged H N Arvind for siphoning off a sum of Rs 1,25,71,209 when he was working as a technician (grade-I) in the central institute of plastic engineering and technology in Mysuru (Karnataka).
The organisation is now known as the central institute of petrochemicals engineering and technology (CIPET).
Set up in 1968, the CIPET is a premier academic institution for higher and technical education under the Union ministry of chemicals and fertilisers.
The court has also ordered for the confiscation of Rs 24 lakh worth properties of the accused in the same order, the ED said.
These assets were attached by the ED before it filed a chargesheet against the couple.
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