Fugitive Economic Offenders

The Enforcement Directorate has attached proceeds of crime worth Rs 4,189.89 crore in crypto-related cases under the anti-money laundering law and declared one accused as a Fugitive Economic Offender, Parliament was informed on Monday. Besides, the Central Board of Direct Taxes (CBDT) has also detected undisclosed income of Rs 888.82 crore from virtual digital assets (VDA) transactions during search and seizure operations. The CBDT has sent 44,057 communications to taxpayers who invested or traded in VDAs but did not report these in Schedule VDA of their Income Tax Returns (ITRs), Minister of State for Finance Pankaj Chaudhary said in a written reply to a question in the Lok Sabha. The government has also brought VDAs under the Prevention of Money Laundering (PMLA). "The Enforcement Directorate has investigated several crypto-related cases under PMLA, attaching/seizing/freezing proceeds of crime worth Rs 4,189.89 crore, arresting 29 persons, and filing 22 prosecution complaints. On

Assets of offenders worth more than $12 billion have been attached since 2014 under the Prevention of Money Laundering Act according to the Ministry of Personnel, Public Grievances & Pensions

Vishwanathan is one of the nine accused in a money laundering case filed by the ED in 2018

Singh said that corruption is a complex social, political, and economic challenge affecting all countries and in a globalised world, corruption has ramifications well beyond the G20

The 51-year-old fugitive diamond merchant has the option of further appeals in the UK and European courts and the process to bring him back to stand trial in India is unlikely to be a speedy one

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These defaulters have the capacity to repay their loans but choose not to do so, says a report

In reply to Lok Sabha in 2020, SP Shukla said 72 Indians charged with financial irregularities have been living abroad. The list includes names like Nirav Modi, Mehul Choksi and Lalit Modi

Johnson also said the UK government has ordered the extradition of economic offenders wanted in India but legal technicalities are making the process difficult

The bench said the process to award sentence to Mallya in the contempt of court matter must get over, as the top court has waited sufficiently for long

PM Modi said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country

Choksi and his nephew Nirav Modi are accused in the Rs 13,500 crore Punjab National Bank fraud case.

Sitharaman said that fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi are "coming back to India" to face the law

The UK noted the urgency and desire on the part of India to extradite people accused of corruption

In the last five years, India managed to bring only about 20 fugitive offenders including AgustaWestland deal middleman Christian Michel James

Nirav Modi currently remains behind bars in a London prison

Vijay Mallya, who is due to be extradited to India, has applied for 'another route' to be able to stay in the UK

Investigations under the Prevention of Money Laundering Act revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines for creation of the asset.

Mirchi, his family and others are being probed by the ED under the criminal sections of the Prevention of Money Laundering Act (PMLA).

The government has said the extradition option is quite complicated as the legal processes are dictated by bilateral treaties