Page 10 - Money Laundering

ED raids Sahara group, Kolkata based co-op society; seizes Rs 2.98 cr cash

The Enforcement Directorate on Thursday said it has seized about Rs 3 crore in cash after it conducted searches against a Kolkata-based cooperative society and the Sahara group as part of a money laundering probe linked to alleged duping of investor funds worth Rs 24,000 crore. The federal agency said in a statement that the raids were undertaken against Humara India Credit Cooperative Society Ltd. at Kolkata, Lucknow and Mumbai. It did not say when these searches were carried out. During the operation, "incriminating" documents including books of account, digital devices of Humara India and other Sahara Group entities were seized along with "proceeds of crime" worth Rs 2.98 crore in cash, it said. The money laundering investigation stems from FIRs registered by Odisha, Bihar and Rajasthan police against the Humara India Credit Cooperative Society, Sahara India Group companies and associated persons. "The society collected more than Rs 24,000 crore from more than one crore investor

Illegal online betting firms act as channels for money laundering: Report

Illegal online betting and gambling companies act as channels for money laundering and terrorist financing, said a report by Rashtriya Raksha Universty's The Security and Scientific Technical Research Association. IT Rules 2021 differentiates between permissible online real money gaming and illegal betting and gambling practices. Yet, the report suggested the need for a registration mechanism to whitelist legitimate online real money gaming platforms that operate in compliance with laws of India. "Illegal online gambling and betting applications expose Indian digital nagriks to several security risks like cybersecurity attacks and unsafe online environments. They have also emerged as a threat to India's national security because illegal online betting and gambling websites act as channels for money laundering and terrorist financing," The Security and Scientific Technical Research Association (SASTRA) report said. It said that the current legal and regulatory framework doesn't ...

ED summons YouTuber Elvish Yadav for questioning in money laundering case

The Enforcement Directorate has summoned YouTuber Siddharth Yadav alias Elvish Yadav on July 23 for questioning in a money laundering case linked to the suspected use of snake venom as a recreational drug in parties hosted by him, official sources said on Wednesday. The central agency had registered the case in May and pressed charges under the Prevention of Money Laundering Act (PMLA) after taking cognisance of an FIR and a charge sheet filed against Elvish Yadav and linked persons by police in Uttar Pradesh's Gautam Buddh Nagar (Noida) district. The sources said Elvish Yadav was initially asked to appear this week before the ED at its Lucknow office but he sought deferment of the summons owing to his scheduled foreign travel and professional commitments. He has now been asked to depose before the investigating officer of the ED on July 23, they said. Rahul Yadav alias Rahul Fazilpuriya, a singer from Haryana allegedly linked to Elvish Yadav, was questioned by the ED this week in

ED files money laundering case to probe STP scam in DJB, conducts searches

The Enforcement Directorate on Friday said it seized Rs 41 lakh in cash, "incriminating" documents and digital devices during searches conducted as part of a money laundering case linked to alleged corruption in the augmentation of some Sewage Treatment Plants by the Delhi Jal Board (DJB). The raids were launched on July 3 and covering multiple places in Delhi, Ahmedabad, Mumbai and Hyderabad, the probe agency said in a statement. The money laundering investigation stems from an FIR of the Delhi government anti-corruption branch (ACB) against a company named Euroteck Environmental Pvt Ltd. and others alleging a scam in the DJB in the name of augmentation and upgradation of 10 Sewage Treatment Plants (STPs) at Pappankala, Nilothi [Package 1], Najafgarh, Keshopur [Package 2], Coronation Pillar, Narela, Rohini [Package 3] and Kondli [Package 4]. These four tenders, valued at Rs 1,943 crore, were awarded to various joint venture (JV) entities in October, 2022. According to the ED, the

Brazilian police indict ex-President Bolsonaro in undeclared diamonds case

Brazil's Federal Police have indicted former President Jair Bolsonaro for money laundering and criminal association in connection with undeclared diamonds the far-right leader received from Saudi Arabia during his time in office, according to a source with knowledge of the accusations. A second source confirmed the indictment, although not for which specific crimes. Both officials spoke on condition of anonymity because they weren't authorized to speak publicly. Brazil's Supreme Court has yet to receive the police report with the indictment. Once it does, the country's prosecutor-general, Paulo Gonet, will analyze the document and decide whether to file charges and force Bolsonaro to stand trial. The indictment dramatically raises the stakes in a series of investigations into the divisive ex-leader applauded by his opponents but denounced as political persecution by his supporters. Bolsonaro and his lawyers have denied any wrongdoing related to the case, as well as the slew of ...

Highlights: BCCI announces cash prize of Rs 125 cr for Indian team for its T20 WC triumph

Catch all the latest news updates from around the world here

SC to hear AAP MLA Jaswant Singh's plea against arrest in ED case on July 1

The Supreme Court is scheduled to hear AAP MLA Jaswant Singh Gajjan Majra's plea challenging his arrest and remand by the Enforcement Directorate in a money-laundering probe linked to a bank fraud case on Monday. A vacation bench of Justice CT Ravikumar and Justice Manoj Misra is likely to hear the matter. The top court had earlier refused to grant interim bail to the Punjab MLA to campaign for the Lok Sabha polls. The Punjab and Haryana High Court had also dismissed a plea by the legislator challenging his arrest, observing that there was no illegality. In May 2023, the Central Bureau of Investigation (CBI) conducted raids on premises linked to Gajjan Majra in connection with an alleged Rs 40 crore bank fraud. In September 2022, the Enforcement Directorate (ED) conducted raids on several premises linked to him as part of a money-laundering probe in connection with the alleged bank loan fraud. The ED team had seized Rs 32 lakh in cash, some mobile phones and hard drives.

High level of technical compliance, but follow-up needed: FATF on India

Finmin says it demonstrates the overall stability and integrity of the financial system

Money laundering: ED files fresh chargesheet in Delhi excise policy case

The Enforcement Directorate on Friday filed a fresh and the ninth charge sheet in the Delhi excise policy-linked money laundering case naming a person called Vinod Chauhan as an accused, official sources said. Chauhan was arrested by the federal agency in May as part of this investigation. The sources said a fresh and the ninth prosecution complaint (charge sheet) was filed before a special Prevention of Money Laundering Act (PMLA) court here naming Vinod Chauhan. He was the 18th person to have been arrested by the ED in this case in which it has also taken into custody Delhi Chief Minister and AAP supremo Arvind Kejriwal, his party colleague and former deputy chief minister Manish Sisodia, Aam Aadmi Party (AAP) MP Sanjay Singh, BRS leader and former Telangana CM K Chandrashekar Rao's politician daughter K Kavitha and several liquor businessmen and others. The ED has mentioned the alleged role of Chauhan in this case in an official document submitted before a court in relation to t

ED arrests expelled DMK functionary in drugs-linked money laundering case

The Enforcement Directorate has arrested sacked DMK functionary Jaffer Sadiq at the Tihar Jail in connection with a drugs linked money laundering investigation, official sources said Friday. The federal agency will soon take the 36-year-old to Chennai and produce him before a special Prevention of Money Laundering Act (PMLA) seeking his remand for custodial interrogation, the sources said. Sadiq was arrested by the ED on June 26 at the Tihar Jail where he is lodged in judicial custody in a NCB case. A production warrant is being sought from a Delhi court following which he is expected to be taken to Chennai where the ED case is lodged, they said. The ED had earlier obtained the court's permission to question him in jail and he was taken into custody during this procedure. He was first arrested by the Narcotics Control Bureau (NCB) in March for his alleged involvement in the smuggling of about 3,500 kg of pseudoephedrine with a street value of more than Rs 2,000 crore. The money ..

Determined to respond to financial crime risks: Singapore PM Wong

Singapore published a national asset recovery strategy report as part of its efforts to enhance its anti-money laundering

Money laundering: TN minister Senthil Balaji's remand extended till July 1

A sessions court on Tuesday extended the remand of former Tamil Nadu Minister V Senthil Balaji, arrested by the ED in a money laundering case, till July 1. Principal Sessions Judge S Alli, before whom Senthil Balaji was produced by the prosecution through video-conferencing from the Central Puzhal Prison here, also extended his judicial custody till July 1. When the case came up for hearing on Tuesday, the ED filed its counter affidavits to the three petitions filed by Senthil Balaji. The judge posted to July 1, further hearing of these petitions. In one petition, Senthil Balaji sought to defer the present proceedings and adjourn the case to a later date. In two others, he sought to furnish the missing documents in "Relied Upon Document Nos-16 and 17"--copies of counterfoil challans relating to his account, which were collected by the ED in its investigation, to him. Balaji was arrested on June 14, 2023 by the ED in connection with the money laundering case linked to a cash-for-jo

HC refuses interim bail to businessman Arun Pillai in Delhi Excise scam

The Delhi High Court has refused to grant interim bail to Hyderabad businessman Arun Ramchandran Pillai, who is lodged in judicial custody in a money laundering case related to the alleged Delhi Excise scam, noting that he is receiving adequate medical treatment in jail. Pillai, who sought to be released on interim bail on medical grounds, submitted that his family has taken opinion from ayurvedic doctors who have opined that he needs to be admitted at an ayurvedic centre to undergo 21 days panchkarma therapy with further rest of 21 days. The high court said, Without commenting on the efficacy of Panchkarma treatment with regard to the back pain, suffice to say that the applicant needs to follow the treatment advice of the doctor and even thereafter if he does not get relief and then if so advised, he would be at liberty to file an application to explore the alternative remedies of ayurveda/ panchkarma treatment etc. A vacation bench of Justice Ravinder Dudeja noted that none of the

Excise policy case: HC halts trial court bail to Kejriwal; order next week

The Delhi High Court on Friday granted interim stay on the trial court's order giving bail to Chief Minister Arvind Kejriwal in the money laundering case linked to the alleged excise scam. The high court also issued notice to Kejriwal seeking his response on ED's plea challenging the trial court's June 20 order by which he was granted bail. "Till the pronouncement of this order, the operation of the impugned order shall remain stayed," a vacation bench of Justice Sudhir Kumar Jain said. The court said it was reserving the order for 2-3 days as it wanted to go through the entire records. Earlier in the day, the division bench said the trial court order shall not be given effect to till the high court hears the matter.

Financial watchdog imposes Rs 18.82 cr penalty on crypto exchange Binance

World's largest cryptocurrency exchange violated India's anti-money laundering regulations, says Financial Intelligence Unit

Money laundering probe: ED makes fresh arrest in Jal Jeevan Mission case

The Enforcement Directorate on Friday said it has made a fresh arrest in connection with its money laundering investigation into alleged irregularities in the Jal Jeevan Mission scheme being implemented in Rajasthan. Padamchand Jain, proprietor of Shree Shyam Tubewell Company, was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) in Jaipur on Thursday. He was produced before a special court in Jaipur on Friday and was sent to the ED custody until June 18, the federal agency said in a statement. The Jal Jeevan Mission (JJM) launched by the Union government aims to provide safe and adequate drinking water through household tap connections and it is being implemented in Rajasthan by the state's Public Health Engineering (PHE) department. A man named Piyush Jain was the first to be arrested in this case by the federal agency in February. "Padamchand Jain was involved in securing tenders pertaining to JJM works based on purported fake and fabricat

Excise scam: Delhi HC seeks ED stand on Chanpreet Singh's bail plea

The Delhi High Court on Friday sought the stand of the Enforcement Directorate (ED) on the bail plea by AAP volunteer Chanpreet Singh Rayat in a money laundering case related to the alleged Delhi excise policy scam. A vacation bench of Justice Amit Sharma issued a notice to the ED on Rayat's plea seeking regular bail and asked the agency to file a status report. The matter would be heard next on July 2. The ED had arrested Rayat, who allegedly managed cash payments for the AAP's 2022 Goa election campaign, on April 12. It has alleged that the 'South Group' comprising BRS leader K Kavitha, TDP's Ongole MP Magunta Sreenivasulu Reddy and his son Raghav Magunta, businessman Sarath Chandra Reddy and others paid Rs 100 crore bribe to the AAP for obtaining a prime position in the Delhi liquor market as part of the now-scrapped excise policy for 2021-22. Out of these alleged kickbacks, the ED has claimed, Rs 45 crore was used by the AAP to fund its Goa election campaign. The excise polic

Delhi excise policy case: Kejriwal's bail plea to be heard on June 19

A Delhi court on Friday fixed for June 19 the bail plea of Chief Minister Arvind Kejriwal in a money laundering case related to the alleged excise scam. Additional Sessions Judge Mukesh Kumar adjourned the matter after the ED sought time to file reply in the matter. The judge, meanwhile, fixed for Saturday an application filed by Kejriwal seeking directions to allow his wife to join through video conference the proceedings of the medical board constituted to determine Kejriwal's health condition and treatment. The judge directed the jail authorities concerned to file a reply in matter. "Application has been moved by the accused seeking directions to allow his wife to join medical board. Before passing any order I deem it appropriate to call for reply from jail superintendent concerned. The application be kept for tomorrow," the judge said. During the proceedings, the ED requested the court to adjourned the matter till June 25. The judge, however, said he would consider the accuse

Money laundering case: SC adjourns AAP MLA's arrest plea hearing to June 18

The Supreme Court on Monday deferred to June 18 the hearing on Punjab AAP MLA Jaswant Singh Gajjan Majra's plea challenging his arrest and remand by the Enforcement Directorate in a money laundering probe linked to a bank fraud case. A vacation bench comprising Justice Sanjay Karol and Justice Augustine George Masih adjourned the matter after noting that the AAP MLA had not filed a rejoinder in the case. At the outset, Solicitor General Tushar Mehta, appearing for ED, submitted that the matter is about Section 19 of the Prevention of Money Laundering Act and sufficiency of grounds. He said the issues raised in this case are similar to that of the Arvind Kejriwal matter where judgment is already reserved. Senior advocate Vikram Chaudhary, appearing for the Punjab AAP MLA, contended that the issues are not similar and the reason for being remanded is primarily non-appearance. The apex court then sought to know whether pleadings in the matter were complete. On being informed that a ..

Court grants bail to Supertech chairman RK Arora in money laundering case

A Delhi court on Thursday granted bail to Supertech chairman and promoter R K Arora in a money laundering case. Additional Sessions Judge Devender Kumar Jangala granted relief to Arora, noting that there was no likelihood of him evading the trial or influencing the investigation. Arora was arrested in June last year. As many as 26 FIRs were registered by the Economic Offences Wing (EOW), Delhi Police, Haryana Police and Uttar Pradesh Police against Supertech Limited and its group companies, and Arora, for criminal conspiracy, cheating and criminal breach for allegedly cheating at least 670 home buyers for an amount of Rs 164 crore. The Enforcement Directorate (ED) filed a cased a case based on the FIRs to probe alleged money laundering by the accused, according to which the amount collected by Supertech Ltd was diverted to their group companies for the purchase of properties and the company with land having much lesser value. The ED alleged that the accused persons have acquired .