Over 1700 money laundering cases in trial stage: ED director Rahul Navin

New Delhi, Over 1700 money laundering cases probed by the Enforcement Directorate (ED) are currently in the trial stage and the delay in courts can be attributed to the general delay in the justice system in the country, ED Director Rahul Navin said on Thursday. The top officer of the ED, however, said the conviction rate of the ED cases was 93.6 per cent as out of 47 cases decided by courts till now, there have been only three acquittals.

A total of 1,739 cases of PMLA are under trial at present and the delay in prosecution in the money laundering cases can be attributed to general delay in the justice system in the country, he said while addressing the ED Day event held here.

Navin said he "candidly" acknowledges pending investigation in PMLA cases, saying it will be the agency's efforts to file chargesheets in such cases before courts.

He said the ED will use advanced technology and forensics in its investigations.

The federal probe agency has completed 69 years of its existence as it was established on May 1, 1956.

It implements two criminal laws--The Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA)-- apart from the civil provisions of the Foreign Exchange Management Act ( FEMA).