Question
An ED officer, while investigating a money laundering case, discovers that proceeds of crime have been transferred to a third party who had no knowledge of the illicit origin. The third party claims to be a bona fide purchaser for value. Under PMLA, which statements are correct? Statement 1: The property cannot be attached because the third party is innocent. Statement 2: The property remains liable for attachment as proceeds of crime, but the third party may claim equitable relief. Statement 3: The third party can claim immunity if they were unaware of the illicit source. Statement 4: Only the original offender can be prosecuted; the third party cannot be prosecuted unless they actively participated in money laundering. Which statements are correct?
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