Hyderabad Bar Owner Sentenced to Five Years Under PMLA for Money Laundering
The case stems from an ED probe into a ₹44.80 lakh bank loan obtained through forged documents, with impersonation alleged.
Overview
- The Special PMLA Court at Nampally on November 24 convicted L. Srinivas Goud under sections 3 read with 4 of the law and ordered rigorous imprisonment for five years.
- The court imposed fines of ₹25,000 each on Goud and his firm, Mallika Inn Bar and Restaurant.
- According to the ED, a Federal Bank loan was secured using fabricated title deeds, forged signatures, and an impostor presented as Goud’s mother.
- Investigators say the housing and renovation loan was diverted and misappropriated, generating alleged proceeds of crime of ₹44.80 lakh.
- After skipping court hearings, Goud was traced through electronic and human intelligence, arrested on October 27, 2025, and remains in judicial custody following rejected bail applications.