Page 11 - Money Laundering

India, Nepal hold first-ever bilateral meeting on money laundering

India and Nepal on Wednesday concluded their first-ever bilateral meeting between their probe agencies tasked to combat money laundering and discussed ways to check the crime taking place through the porous border between the two neighbours. A visiting delegation of Nepal's department of money laundering investigation (DMLI), led by its Director General Pushpa Raj Shahi, attended the two-day meet with the officials from the Enforcement Directorate (ED). "This was the first head of the agency level meeting between the two anti-money laundering agencies of India and Nepal. The meeting was aimed at developing mutual cooperation and strengthening capacity building in the areas of money laundering and asset recovery between India and Nepal," an official statement issued by the ED said. The Indian side was led by ED Director (in-charge) Rahul Navin and both the sides had officials from their respective embassies in Delhi and Kathmandu apart from the Indian external affairs ministry. Duri

Supreme Court may pass interim order on Arvind Kejriwal's bail on May 10

Chief Minister Arvind Kejriwal was arrested on March 21 and is currently detained in Tihar Jail under judicial custody in connection to a money laundering case

Prisoner has right to medical treatment: HC on interim bail to Naresh Goyal

A prisoner also has the right to medical treatment and is entitled to dignity, the Bombay High Court observed while granting interim bail for two months on medical grounds to Jet Airways founder Naresh Goyal, arrested in a money laundering case. A single bench of Justice N J Jamadar said there was a difference between undergoing treatment as an undertrial prisoner and as a citizen with no restraint. The bench had on Monday granted interim bail for two months to Goyal on medical grounds. Goyal (75) had sought interim bail on medical and humanitarian grounds as both he and his wife, Anita Goyal, are suffering from cancer. A special court had in February denied bail to Goyal but permitted him to be admitted to a private hospital of his choice and seek medical treatment. Goyal then moved the high court seeking bail on merits and to be released on interim bail on medical grounds. Justice Jamadar, in the order, perused the medical records and said, "It would be audacious to hold that t

Excise policy Case: SC questions ED on probe delay, seeks case files

The Supreme Court on Tuesday questioned the Enforcement Directorate (ED) over the "delay" in its probe into the excise policy-linked money laundering case involving Delhi Chief Minister Arvind Kejriwal, and asked the agency to produce case files before the arrest of the AAP leader. A bench of Justices Sanjiv Khanna and Dipankar Datta also asked the ED to produce case files before and after the arrest of Delhi's former deputy chief minister Manish Sisodia, who is also an accused in the case. The bench is hearing arguments on Kejriwal's plea challenging his arrest by the ED in the case. It questioned the ED on the time taken to probe the case and noted that the agency has taken two years to unearth something The bench also asked why relevant direct questions were not put to witnesses and accused in the case. Additional Solicitor General S V Raju, appearing for the ED, said initially Kejriwal was not the focus of the investigation in the case and his role became clear at later stage.

ED arrests J'khand minister's secy, latter's domestic help after cash haul

The Enforcement Directorate on Tuesday arrested Jharkhand minister Alamgir Alam's personal secretary Sanjiv Lal and the latter's domestic help following a recovery of over Rs 32 crore cash from them, official sources said. The duo have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) following their overnight questioning, the sources said. The ED on Monday had raided a 2BHK flat in the city that is allegedly occupied by Lal's domestic help Jehangir, as part of a money laundering investigation into alleged irregularities in the state rural development department, they said. It had recovered over Rs 32 crore cash apart from Rs 3 crore from some other premises that were searched by the central agency. The total cash recovery stands at Rs 35.23 crore, the sources said. Jharkhand rural development minister and Congress leader Alam had denied any wrongdoing on his part.

Jet Airways founder granted interim bail for 2 months on medical grounds

The Bombay High Court on Monday granted interim bail for two months on medical grounds to Jet Airways founder Naresh Goyal, who has been arrested by the Enforcement Directorate (ED) in a money laundering case. A single bench of Justice N J Jamadar said Goyal shall pay a surety of Rs 1 lakh and not leave Mumbai without prior permission from the trial court. "The applicant (Goyal) shall be released on interim bail for a period of two months. He shall abide by all conditions imposed," the bench said. The high court also directed Goyal to surrender his passport. Goyal (75) had sought the interim bail on medical and humanitarian grounds as both he and his wife Anita Goyal are suffering from cancer. A special court in February refused bail to Goyal but permitted him to be admitted in a private hospital of his choice and seek medical treatment. Goyal then moved the HC, seeking bail on merits and to be released on interim bail on medical grounds. Goyal's counsel Harish Salve had urged t

ED not above the law: Delhi court slams agency for 'high handed act'

A Delhi court admonished the Enforcement Directorate for 'overstepping' its bounds by recording statements of doctors of private hospitals

FIU notifies fresh terror financing reporting alerts for capital markets

A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI. This is part of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to share suspicious transaction reports (STRs) with the FIU which subsequently analyses them and shares them for action with various investigative and intelligence agencies. FIU proactively engages with the financial sector

ED searches, assets attachment, convictions rose exponentially under BJP

Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the ten years since 2014 compared to the preceding nine-year period, according to official data. An analysis of the data by PTI for the last ten years, between April 2014 and March 2024, against the nine years from July 2005 to March 2014 presents a picture of the federal agency's "intensified" action under various sections of the Prevention of Money Laundering Act (PMLA). The PMLA was enacted in 2002 and implemented from July 1, 2005, to check serious crimes of tax evasion, generation of black money and money laundering. While the opposition parties have alleged that the ED's action during the last decade was part of the BJP-led central government's "oppressive" tactics against its rivals and others, the Union government and the ruling party have asserted that the agency is independent and its investigations

'Admission of guilt': Delhi L-G Saxena writes open letter to CM Kejriwal

'It has become habitual on the part of your ministers to blame officers for their own fault,' he wrote

Excise policy scam: Court sends K Kavitha to judicial custody till April 23

A Delhi court on Monday sent BRS leader K Kavitha, arrested in connection with a corruption case linked to the alleged Delhi excise policy scam, to judicial custody till April 23. The daughter of former Telangana chief minister K Chandrashekar Rao was arrested from the Tihar Jail, where she was lodged after her arrest by the Enforcement Directorate (ED). The CBI produced the accused before the court on expiry of her three-day police custody granted earlier by the judge and sought her JC. The CBI told the court that she was not required for further custodial interrogation. Advocate Nitesh Rana, representing Kavitha along with Deepak Nagar, opposed the police plea, saying the grounds were not sufficient to keep her in custody since she is no longer required for custodial interrogation. CBI officials had recently questioned Kavitha inside prison after obtaining permission from a special court. The BRS leader was questioned about the WhatsApp chats recovered from co-accused Buchi Babu

Court denies bail to Naresh Goyal, says he is getting best treatment

Medical reports did not indicate that Jet Airways founder Naresh Goyal's health would improve if he was released and he was already getting the "best possible" treatment at a hospital of his choice, a court here has said while refusing him bail. Special judge for cases under Prevention of Money Laundering Act (PMLA), M G Deshpande, on April 10 rejected the 74-year-old businessman's bail application, filed on the ground that he suffers from numerous life-threatening medical conditions. The court had, in February 2024, denied interim bail to Goyal when he sought relief on the ground that he was suffering from cancer. It, however, permitted him to undergo treatment at a hospital of his choice. Later, Goyal moved another application for bail, citing the deterioration in his health since hospitalization. He suffered from fever with chills and also had psychiatric issues, he said. The court in its detailed order, which became available on Saturday, noted that it had expressed concern .

Supreme Court stays trial in money laundering case against Santiago Martin

The Supreme Court on Wednesday stayed the proceedings before a special court in a money laundering case against 'lottery king' Santiago Martin. A bench of Justices Abhay S Oka and Ujjal Bhuyan issued notice on a plea by Martin challenging the March 16 order of a special PMLA court in Kerala's Ernakulam dismissing his petition for keeping in abeyance the trial in the money laundering case registered by the Enforcement Directorate (ED). Senior advocate Aditya Sondhi and advocate Rohini Musa, who appeared for Martin, said that the special court ought to have considered that the trial in the Prevention of Money Laundering Act (PMLA) case can commence only after the conclusion of the trial in the predicate case. On March 16, the special court dismissed Martin's application seeking to keep in abeyance the trial in the ED case till the conclusion of trial in the predicate offence, a Central Bureau of Investigation (CBI) case related to an alleged lottery scam. In his plea before the top .

Liquor policy case: K Kavitha's judicial custody extended till April 23

K Kavitha, who has been accused of paying bribes in exchange for liquor licences in Delhi, was arrested by the Enforcement Directorate on March 15

'Panama Papers' trial starts; 27 people charged in money laundering case

The trial of 27 people charged in connection with the worldwide Panama Papers money laundering started Monday in a Panamanian criminal court. Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak. The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world's richest people hide their money. The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others. The often-delayed trial opened Monday, with lawyers Juergen Mossack, Ramn Fonseca and other ex-employees of the firm facing money laundering charges. Mossack was present in the courtroom; lawyers for Fonseca said he was in a hospital in Panama. The case centers on allegations the firm set up shell companies to acquire properti

Yellen heads to China to talk trade, anti-money laundering, overproduction

Treasury Secretary Janet Yellen is headed to a China determined to avoid open conflict with the United States, yet the world's two largest economies still appear to be hashing out the rules on how to compete against each other. There are tensions over Chinese government support for the manufacturing of electric vehicles and solar panels, just as the U.S. government ramps up its own aid for those tech sectors. There are differences in trade, ownership of TikTok, access to computer chips and national security all of them a risk to what has become a carefully managed relationship. The 77-year-old Yellen, a renowned economist and former Federal Reserve chair, laid out to reporters the issues that she intends to raise with her Chinese counterparts during her five-day visit. Yellen is headed to Guangzhou and Beijing for meetings with finance leaders and state officials. Her engagements will include Vice Premier He Lifeng, Chinese Central Bank Governor Pan Gongsheng, former Vice Premier Li

Delhi Court flags deficiencies, delays in ED money laundering probe

A Delhi Court criticised the Enforcement Directorate over a money laundering case in which the ED chose not to prosecute two individuals who had incriminating evidence against them

ED arrests three members of banned PFI on money laundering charges

Three alleged members of the banned Popular Front of India (PFI) have been arrested by the Enforcement Directorate (ED) on money-laundering charges, official sources said on Saturday. Abdul Khader Puttur, Anshad Baddrudin and Firoz K were working as physical trainers for the PFI, the sources said, adding that they were arrested under the provisions of the Prevention of Money Laundering Act (PMLA). The arrested accused were produced before a special court here on Saturday. The agency has accused the three men of "imparting" weapons training to the PFI cadre and receiving substantial funds from the proscribed organisation for the same. The PFI was banned under the provisions of the Unlawful Activities (Prevention) Act (UAPA) by the Centre in September 2022 over its alleged links with terror activities. The PFI was formed in 2006 in Kerala. It had its headquarters in Delhi.

SC to hear on April 1 bail plea of ex-Tamil Nadu minister Senthil Balaji

The Supreme Court is scheduled to hear on April 1 the bail plea of former Tamil Nadu minister V Senthil Balaji, who was arrested by the Enforcement Directorate last year in connection with a money laundering case. A bench of Justices Abhay S Oka and Ujjal Bhuyan is scheduled to hear Balaji's plea challenging the February 28 order of the Madras High Court dismissing his second bail petition in the case. The high court, while dismissing the bail petition, said that if he is let out on bail in a case of this nature, it will send a wrong signal and it will be against larger public interest. It said the petitioner has suffered incarceration for more than eight months and therefore, it will be more appropriate to direct the special court to dispose of the case within a time frame. "Accordingly, there shall be a direction to the Principal Special Court, Chennai, to dispose of the case within a period of three months from the date of receipt of copy of this order," it had ordered. The hig

ED wants AAP's LS poll strategy details from Kejriwal's phone, says Atishi

The Enforcement Directorate is working as BJP's political weapon and it wants to get details of AAP's Lok Sabha election strategy by accessing Delhi Chief Minister Arvind Kejriwal's phone, senior AAP leader Atishi alleged on Friday. Kejriwal, who is the national convener of the Aam Aadmi Party (AAP), was arrested by the central probe agency on March 21 in the Delhi excise policy-linked money laundering case and is in its custody till April 1. The insistence of the Enforcement Directorate (ED) to look into Kejriwal's mobile-phone, which is a few months old and did not exist when the policy was formed and implemented, proves that the agency is working as a "political weapon" of the BJP, Atishi alleged at a press conference here. The AAP leader, who is a minister in the Kejriwal government, said that "actually it is the BJP and not the ED that wants to know what is there on Kejriwal's phone". The excise policy was implemented in 2021-22 and the chief minister's current phone is just a