Tag: laundering

Satyendar Jain seeks transfer of corruption, money laundering cases to another judge

[ad_1]
New Delhi: Jailed Aam Aadmi Party (AAP) leader Satyender Jain on Tuesday asked a Delhi court to transfer two cases related to alleged corruption and money laundering brought against him by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to another judge.
During the hearing, the former Delhi Minister informed Special Judge Vikas Dhull, who is overseeing both cases, that he had filed transfer applications with the Principal District and Sessions Judge.
The proceedings in the CBI corruption case have been temporarily halted by the Principal District Judge until May 4, when arguments on Jain’s transfer application will be heard. Meanwhile, a similar application in the ED’s money laundering case is set to be heard on April 13.

Jain has requested that Special Judge Dhull postpone the matter “to see the outcome of said transfer applications”.
In response to a court inquiry, the ED’s Special Public Prosecutor confirmed that he had received an advance copy of Jain’s application related to the money laundering case.
The court subsequently adjourned the proceedings.
Jain was placed under arrest on May 30, 2022, by the central agency under Section 19 of the Prevention of Money Laundering Act, 2002.
The ED had initiated a money laundering investigation on the basis of the FIR registered by the Central Bureau of Investigation in 2017 under Sections 13(2) read with 13(1)(e) of the PC Act, 1988 against Jain, his wife Poonam Jain, and Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain, and Ankush Jain.

A charge sheet was filed by the CBI on December 3, 2018, against Jain, his wife Poonam Jain, and other accused.
Earlier, the ED had provisionally attached immovable properties worth Rs 4.81 crore belonging to companies beneficially owned and controlled by Jain on March 31, 2022.
[ad_2]
#Satyendar #Jain #seeks #transfer #corruption #money #laundering #cases #judge
( With inputs from www.siasat.com )

April 11, 2023
Delhi excise policy case: Court to hear Sisodia’s bail plea in money laundering case on April 5

[ad_1]
New Delhi: A court on Saturday adjourned till April 5 the hearing on the bail plea of AAP leader Manish Sisodia, who has been arrested by the ED in a money laundering case linked to alleged irregularities in implementing the now-scrapped excise policy in Delhi.
Special Judge MK Nagpal adjourned the hearing after Sisodia’s counsel sought more time to prepare a detailed response to ED’s submission on the bail plea.
Sisodia moved the bail plea on Tuesday and the court sought the Enforcement Directorate’s response by March 25.
On Wednesday, after seven days of questioning by the ED, the court sent him to 14-day judicial custody.
On Friday, the court reserved its order on a separate bail plea moved by Sisodia in the excise policy case lodged by the Central Bureau of Investigation.
Special Judge Nagapal said the court will pronounce its order on the bail plea in the CBI case on March 31.
The ED arrested the former Delhi deputy chief minister on March 9 at Tihar jail, where he was lodged in connection with the case being probed by the CBI.
The CBI arrested him on February 26.

Subscribe us on
[ad_2]
#Delhi #excise #policy #case #Court #hear #Sisodias #bail #plea #money #laundering #case #April
( With inputs from www.siasat.com )

March 25, 2023
Money laundering: ED says only 2.98% cases against MPs, MLAs; conviction 96%

[ad_1]
New Delhi: The Enforcement Directorate (ED) has said that only 2.98 percent of its overall ECIRs or complaints have been filed against serving or former MPs and MLAs even as its conviction rate under the anti-money laundering law is at a high of 96 per cent.
The federal probe agency has published an updated data of its action under the three laws it implements– the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act (FEMA) and the Fugitive Economic Offenders Act (FEOA)– till January 31, 2023.
The ED was entrusted with enforcing the stringent provisions of the PMLA, enacted in 2002, from July 1, 2005. The law empowers the agency to summon, arrest, attach the assets of the accused at the investigation stage and prosecute the offenders before a court of law.
The data said the ED filed a total of 176 Enforcement Case Information Reports (ECIRs), equivalent to a police FIR, against existing and ex MPs, MLAs and MLCs which comes to 2.98 percentage of the total 5,906 such complaints filed since the law came into being.
It said a total of 1,142 prosecution complaints or charge sheets have been filed by it till now under the PMLA and it arrested a total 513 people under these ECIRs and prosecution complaints.
Trial, according to the data, was completed in a total of 25 cases under the PMLA till this period, and, this resulted in conviction in 24 cases. One case resulted in acquittal.
The number of accused convicted under the anti-money laundering law in these cases stands at 45.
The percentage of conviction is as high as 96 per cent, according to the data.

These convictions led to the confiscation of assets of Rs 36.23 crore while the courts imposed a fine of Rs 4.62 crore against the convicts.
The opposition parties have often criticised the ED for choosing to act against politicians from their ranks and have said that the agency has a dismal conviction rate.
The data also said that only in 8.99 per cent or in 531 cases out of the total 5,906 ECIRs filed, a search or raid was conducted by the agency sleuths. The number of search warrants issued in these 531 cases is 4,954.
According to the data, a total of 1,919 provisional attachment orders were issued by the agency under the anti-money laundering law, under which assets to the tune of total Rs 1,15,350 crore were attached.
The agency has been investigating some high-profile people, including sitting chief ministers, top politicians, bureaucrats, business groups, corporates, foreign nationals and others, under the anti-money laundering law.
The Adjudicating Authority of the PMLA confirmed 1,632 such attachment orders (holding assets worth Rs 71,290 crore) while 260 (with assets under attachment worth Rs 40,904 crore) were pending for confirmation.
Talking about its FEMA action, the ED said it launched a total of 33,988 cases under this civil law till January end this year, and probe was disposed in 16,148 cases. A total of 8,440 show cause notices (after completion of investigation) were issued under the FEMA out of which 6,847 were adjudicated, the data said.
The FEMA was enacted in 1999 after repealing the Foreign Exchange Regulation Act(FERA) of 1973.
The agency also said it initiated FEOA proceedings against 15 people out of which nine have been declared Fugitive Economic Offenders (FEO) by the courts till now and the assets attached under this law, brought in 2018, are pegged at 862.43 crore, the data said.
The FEOA was enacted by the Narendra Modi government to cripple those who are charged with high-value economic frauds and abscond from the country to evade the law.
[ad_2]
#Money #laundering #cases #MPs #MLAs #conviction
( With inputs from www.siasat.com )

March 16, 2023
ED arrests 4 in AP ‘Siemens Project’ money laundering case

[ad_1]
New Delhi: The Enforcement Directorate (ED) on Tuesday said it has arrested four people in connection with its money laundering probe into alleged diversion of Andhra Pradesh government funds meant for skilling youths in using advanced software.
Soumyadri Shekhar Bose alias Suman Bose, former managing director (MD) of Siemens Industry Software India Pvt Ltd (SISW), Vikas Vinayak Khanvelkar, MD of Designtech Systems Pvt Ltd, Mukul Chandra Agrawal, former financial advisor and authorised signatory of Skillar Enterprises India Pvt Ltd, and Suresh Goyal, a chartered accountant, have been sent to ED custody by a special Prevention of Money Laundering Act (PMLA) court.
The case pertains to diversion and misutilisation of crores of funds of the state government disbursed for implementation of “Siemens Projects” in which the government aimed at providing advanced software and technical skills to the local youth.
The money laundering case stems from a Andhra Pradesh CID PMLA regarding swindling of government money to the extent of Rs 241 crore in a dubious manner, the agency said.
The probe found “diversion and siphoning off government funds given to Designtech Systems Pvt Ltd through Skillar Enterprises India Pvt Ltd and thereafter, through a web of shell companies under the guise of supply of software, hardware, materials and services without any genuine supplies”, it said.
The purpose for such diversion of funds was to generate cash and thereby, siphon off money from the system without utilising the same for the Siemens Projects for which funds were sanctioned by the government of Andhra Pradesh, it said.
The ED said it has “established” a money trail of diversion of around Rs 70 crore till now.

[ad_2]
#arrests #Siemens #Project #money #laundering #case
( With inputs from www.siasat.com )

March 14, 2023
ED summons NCP MLA Hasan Mushrif for questioning in money laundering case

[ad_1]
New Delhi: The Enforcement Directorate has summoned senior NCP leader and MLA Hasan Mushrif for questioning in a money laundering investigation being conducted against him and others, officials said Saturday.
The politician has been asked to depose before the federal probe agency in Mumbai next week so that his statements can be recorded under the Prevention of Money Laundering Act (PMLA), they said.
The ED had conducted searches at multiple premises linked to him in January. Some fresh searches were conducted over the last few days in Kolhapur and some other locations.
The money laundering case is linked to a probe related to alleged irregularities in the operations of some sugar mills based in the state that are connected to Mushrif, including the Sar Senapati Santaji Ghorpade Sugar Factory Ltd to which his three sons are linked.
Mushrif (68) is a Nationalist Congress Party (NCP) MLA from the Kagal seat in Kolhapur. He is also the vice president of the party headed by Sharad Pawar.
BJP leader Kirit Somiaya had in 2021 alleged that the former rural development minister (Mushrif) indulged in corrupt practices by holding ‘benami’ entities through his family members and companies. The NCP had then dismissed these charges.
Subscribe us on

[ad_2]
#summons #NCP #MLA #Hasan #Mushrif #questioning #money #laundering #case
( With inputs from www.siasat.com )

March 11, 2023
ED attaches assets worth Rs 4.15cr in money laundering case

[ad_1]
New Delhi: The Enforcement Directorate (ED) on Monday said it has attached properties worth Rs 4.15 crore of a firm — NGHI Developers India Ltd, and its other group companies, in connection with a money laundering case.
The investigation in this regard was initiated by the ED, Jalandhar under the provisions of the Prevention of Money Laundering Act, in compliance with the directions of the High Court of Punjab and Haryana.
The firm as well as the group of companies have been accused of coming up with a Ponzi Scheme which affected thousands of investors across Punjab, Rajasthan and Himachal Pradesh.
The enquiries conducted by the ED revealed that multiple FIRs were found registered at different police stations in Punjab, Rajasthan and Himachal Pradesh under various sections of the Indian Penal Code against Pipal Singh, the firm director and others.
Pipal Singh was arrested by the police but was granted bail by the high court, after he promised that he would return the money to the investors. However, he never returned the money.
“He has been declared as proclaimed offender by a court in Punjab. Investigation conducted by the ED revealed that multiple companies were formed by the main accused Singh and his associates,” an official said.
The proceeds of crime was diverted and channelled into various immovable properties purchased in Punjab, Madhya Pradesh and Uttar Pradesh in the names of NGHI Developers India Limited and other group companies.

[ad_2]
#attaches #assets #worth #4.15cr #money #laundering #case
( With inputs from www.siasat.com )

February 27, 2023
Hyderabad jeweller appears before ED in money laundering case

[ad_1]
Hyderabad: Sukesh Gupta, one of the owners of MBS Jewellers, on Wednesday appeared before the Enforcement Directorate (ED) officials in a money laundering case.
The jeweller appeared before the ED officials at the agency’s regional office here.
The Telangana High Court on Monday had directed Gupta to appear before the ED and answer queries on information he had furnished. The court had refused to further stay the ED proceedings.
The court had earlier stayed the ED case and appointed a senior counsel as amicus curiae.
The central agency had commenced an investigation against Gupta based on an FIR filed by the CBI in 2014 on alleged irregularities committed by him in operating provisions of the gold import scheme.
Gupta had entered into an MoU with Metals Minerals Trading Corporation (MMTC), a public sector enterprise, under provisions of the scheme. He allegedly received gold on credit from MMTC Ltd to maintain forex positions without paying an additional five per cent tax. The agency reportedly identified fake invoices and vouchers pertaining to jewellery sales to customers.
The ED investigated their bank transactions and reportedly found that they deposited demonetised currency in banks and exchanged them for new notes.
The alleged irregularities by MBS Jewellers and other sister companies in buying gold in collusion with the officials of MMTC allegedly caused a loss to the tune of over Rs 504 crore including interest to the MMTC.

In August 2021, the ED had attached properties worth Rs 363.51 crore of MBS Jewellers, MBS Impex and other group entities under PMLA.
The action was taken on the basis of an FIR registered by the ACB and the CBI against Sukesh Gupta and his companies for defrauding MMTC. The CBI had filed the chargesheet in 2014.
In October last year, the ED had arrested Sukesh Gupta after searches at MBS Jewellers Private Limited and Musaddilal Gems and Jewels India Private Limited. The agency had seized gold jewellery stock worth Rs 149.10 crore and an amount of Rs 1.96 crore.
[ad_2]
#Hyderabad #jeweller #appears #money #laundering #case
( With inputs from www.siasat.com )

February 22, 2023
ED arrests Sukesh Chandrashekhar in fresh money laundering case

[ad_1]
New Delhi: The Enforcement Directorate (ED) has arrested alleged conman Sukesh Chandrashekhar in a fresh money laundering case linked to duping of former Religare promoter Malvinder Singh’s wife, officials said on Thursday.
A Delhi court sent him to nine-day ED custody under the Prevention of Money Laundering Act (PMLA).
The fresh charges against Chandrashekhar pertain to Rs 3.5 crore that Malvinder Singh’s wife Japna is alleged to have paid after she was conned that this money would be used to bail her husband out.
Malvinder Singh is currently lodged in jail in a case against him linked to alleged misappropriation of funds at Religare Finvest Limited (RFL).
Chandrashekar was earlier arrested by the ED in a PMLA case where he is alleged to have duped Aditi Singh, the wife of Malvinder Singh’s brother Shivinder Singh.
Subscribe us on
[ad_2]
#arrests #Sukesh #Chandrashekhar #fresh #money #laundering #case

( With inputs from www.siasat.com )

February 16, 2023
Govt blocks 232 foreign apps over gambling, money laundering concerns

[ad_1]
New Delhi: The government has blocked 232 apps operated by overseas entities, including Chinese for being involved in betting, gambling and unauthorised loan service, according to an official source.
Ministry of Electronics and IT (MeitY) has issued orders to block these apps following instructions from Ministry of Home Affairs.
“The order to block 138 apps that were involved in betting, gambling and money laundering were issued last evening. Separately, an order to block 94 apps engaged in unauthorised loan service has also been issued. These apps were being operated from offshore entities, including Chinese. They were posing a threat to the economic stability of the country,” the official, who did not wish to be named , told PTI.
Subscribe us on
[ad_2]
#Govt #blocks #foreign #apps #gambling #money #laundering #concerns
( With inputs from www.siasat.com )

February 5, 2023
Govt blocks 232 foreign apps, including Chinese for gambling, money laundering

[ad_1]
New Delhi: The government has blocked 232 apps operated by overseas entities, including Chinese for being involved in betting, gambling and unauthorised loan service, according to an official source.
Ministry of Electronics and IT (MeitY) has issued orders to block these apps following instructions from Ministry of Home Affairs.
“The order to block 138 apps that were involved in betting, gambling and money laundering were issued last evening. Separately, an order to block 94 apps engaged in unauthorised loan service has also been issued. These apps were being operated from offshore entities, including Chinese. They were posing a threat to the economic stability of the country,” the official, who did not wish to be named , told PTI.
The official did not disclose the name of the apps that have been blocked. An official query sent to MeitY did not elicit any immediate response.
Subscribe us on
[ad_2]
#Govt #blocks #foreign #apps #including #Chinese #gambling #money #laundering
( With inputs from www.siasat.com )

February 5, 2023