New Delhi: ED today attached assets worth Rs 50 crore of a Karnataka don and his associates in connection with its money laundering probe in alleged criminal cases of extortion and hawala transactions against them.

The case pertains to Bananje Raja, Hajee Ameen Basha and few others against whom the Karnataka police had also filed a criminal case and charge sheets for "indulging in criminal activities involving life threats, extortion, murder and supplying money through hawala channels for criminal activities."

ED said its investigations have revealed that the proceeds of crime acquired through these criminal means were laundered and projected as overseas earnings from Dubai and several properties were acquired in the name of their alleged Manager Lawrence Paul, his wife and his brother.

"It was also noticed that Paul is mostly stationed in Dubai and is sending the proceeds of crime to his brother and acquiring various properties in their (accused) names. The properties include Rs 1.21 crore advance payment for acquiring three residential flats, over 18 acres of agricultural land in Mangalore, a mineral water plant and various residential properties.

"It was also noticed that the these properties are being projected as if procured from the business earnings of Paul while he was only a Manager in the Dubai-based trading company," the ED said in a statement.

The agency has provisionally attached 16 immovable properties with a registered value of Rs 9.28 crore and an advance amount of Rs 1.21 crore under the provisions of the Prevention of Money Laundering Act (PMLA).

"However, the present market value of the said attached properties is about Rs 50 crore," it added.

An attachment order under PMLA is aimed to ensure that the accused is not able to derive benefits of his ill-gotten wealth and such an order can be appealed before the Adjudicating Authority of the said Act within 180 days.