Bhopal, July 9 : The Enforcement Directorate's (ED) Bhopal Zonal Office, has provisionally attached immovable assets valued at Rs 50.80 lakh in a money laundering case involving Shyamlal Akhand, former Enforcement Officer of the Employees' Provident Fund Organisation (EPFO), ED officials said on Wednesday.

The move came under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, following serious allegations of disproportionate asset acquisition.

According to official sources, the attached properties include agricultural land in Nalwa village of Ujjain district held jointly in the names of Akhand's wife and son, and a residential plot in Emerald City in Jakhya village of Indore district, registered solely under his name, a statement said.

Investigations reveal that Akhand allegedly misused his position between 2009 and 2019 to amass wealth far exceeding his legitimate sources of income.

The ED claims that he engaged in corrupt practices such as accepting bribes, and later invested the illicit earnings into immovable assets.

To justify his financial standing, Akhand reportedly cited income from salary, rent, agriculture, and his wife's embroidery and stitching business -- yet failed to produce convincing documentation for the latter.

Moreover, unusual cash deposits were found across several family bank accounts, the statement noted.

The probe was initiated based on two FIRs lodged by the CBI's Anti-Corruption Branch in Bhopal -- one concerning bribery, and another involving possession of unaccounted assets.

This action marks a key step in cracking down on corruption within government institutions.

Officials assert that further investigation is underway to uncover the complete extent of Akhand's alleged criminal activities and identify potential collaborators.

As the case unfolds, the spotlight remains on internal accountability and the robust enforcement of financial integrity within India's public sector.

Further updates are expected as new details emerge from the ongoing inquiry.

/IANS