Page 12 - Money Laundering

ED attaches properties worth over Rs 50 cr belonging to Samprash Foods Ltd

ED said that in its investigation, it has been revealed that CN Kuchroo, along with his associates, had registered various dummy entities and opened bank accounts in the names of employees

US, Cyprus partner to fight evasion of Russian sanctions, money laundering

The United States and Cyprus said on Tuesday they're formalising their collaboration in fighting money laundering, sanctions evasion and other financial crimes with an agreement offering Cypriot law enforcement authorities US expertise. The FBI and Cypriot police will sign an agreement in the coming days that includes the US Department of Justice offering help to proactively detect, investigate and prosecute cases involving financial crimes in Cyprus, according to a joint statement. Cypriot President Nikos Christodoulides last year invited FBI and Justice Department officials to assist with investigations into allegations that Cypriot financial service providers had helped Russian oligarchs skirt international sanctions. Although Cyprus has insisted it has abided by international sanctions imposed on Russia following its 2022 invasion of Ukraine, the US has targeted several Cypriot-based companies, lawyers and accountants for allegedly assisting in dodging the sanctions.

Highlights: Court sends Delhi CM Kejriwal to ED custody till March 28

ED arrests Delhi CM Kejriwal updates: Catch all the latest developments on Delhi CM Arvind Kejriwal's arrest by Enforcement Directorate officials here

ED required to furnish grounds of arrest to accused in writing, says SC

The Supreme Court has dismissed the Centre's petition seeking review of its verdict which said the Enforcement Directorate (ED) is required to furnish the grounds of arrest to an accused in writing "without exception", saying there was no error in its judgement warranting reconsideration. A bench of Justices AS Bopanna and Sanjay Kumar considered the review petition in chambers and passed the order. "We have carefully gone through the review petitions and the connected papers. We do not find any error, much less apparent, in the order impugned, warranting its reconsideration. The review petitions are dismissed accordingly. Pending application, if any, stands disposed of," the bench said. In its order passed on March 20, the bench also dismissed the Centre's application for an open court hearing. The Centre had sought a review of the October 3 order of the apex court by which it had set aside the orders of the Punjab and Haryana High Court as well as the arrest memos, while directin

Delhi excise policy scam: After arrest, Kejriwal approaches lower court

Delhi Chief Minister Arvind Kejriwal was arrested on March 21 following his plea for relief against coercive action by the ED in the Delhi High Court was denied

Arvind Kejriwal arrested: Can a chief minister run office from behind bars?

Delhi liquor policy case: Delhi Chief Minister Kejriwal is the first serving chief minister to be arrested. The AAP leader insists on running office from behind bars, but what does the law say?

Arvind Kejriwal skips ED summons in money laundering case linked to DJB

Delhi Chief Minister Arvind Kejriwal on Monday skipped the ED summons in a money laundering case linked to alleged irregularities in the Delhi Jal Board. The Aam Aadmi Party (AAP) also termed the summons "illegal" and accused the BJP government at the Centre of using the Enforcement Directorate (ED) to target Kejriwal. The ED had summoned Kejriwal for questioning on Monday 18 in a money laundering probe linked to alleged irregularities in the DJB. This is the second case registered under the anti-money laundering law in which the 55-year-old politician, also the AAP national convenor, has been summoned. He is already facing summons for questioning in the Delhi excise policy-linked money laundering case. Kejriwal has skipped eight summonses in this case till now, terming them illegal. A fresh and ninth such notice in the excise policy case stipulates him to appear before an ED investigating officer on March 21.

Enforcement Directorate conducts fresh searches in Bihar sand mining case

The Enforcement Directorate on Saturday conducted fresh searches in Bihar as part of a money laundering case investigation linked to alleged illegal sand mining in the state, official sources said. The searches are being conducted in an around Arrah town in Bhojpur district. The premises of a businessman and some linked persons are being covered, the sources said. The central agency last week arrested Subhash Yadav, a man allegedly linked to the RJD, in this case. The money laundering case stems from a clutch of 20 FIRs registered by the Bihar Police against a company named Broadsons Commodities Pvt Ltd (BCPL) and its directors alleging they were engaged in illegal mining and sale of sand without using e-challans. Bihar MLC and JD(U) leader Radha Charan Sah, his son Kanhaiya Prasad and directors of Broadsons Commodities like Mithilesh Kumar Singh, Baban Singh and Surendra Kumar Jindal were arrested by the ED last year and they are currently lodged in jail under judicial custody. A

BRS leader K Kavitha taken in custody by ED in money laundering case

The Enforcement Directorate on Friday arrested BRS leader K Kavitha in Hyderabad and is bringing her to Delhi for questioning in connection with a money laundering probe linked to the Delhi excise policy scam case, agency sources said. Agency officials raided the premises of the leader in Hyderabad Friday morning and later arrested her. Sources said the BRS leader was arrested and is being taken to Delhi. BRS leader and former Telangana minister Vemula Prashanth Reddy claimed that Kavitha was arrested and being taken to Delhi on a flight at 8.45 pm. He alleged that the move was "pre-planned" and said they would protest against it. BRS working president K T Rama Rao, former minister Harish Rao and a large number of party workers gathered at Kavitha's residence and raised slogans. The Enforcement Directorate had claimed Kavitha was linked to a "South Group" lobby of liquor traders who were trying to play a larger role under the now scrapped Delhi excise policy for 2021-22. The ...

Money laundering case: SC to hear AAP's Sanjay Singh's bail plea on Mar 19

The Supreme Court on Tuesday said it would hear on March 19 a plea filed by AAP leader Sanjay Singh, who has challenged an order of the Delhi High Court which refused to grant him bail in a money laundering case related to the alleged Delhi excise policy scam. A bench of Justices Sanjiv Khanna, Dipankar Datta and Prashant Kumar Mishra was informed by the counsel appearing for the Enforcement Directorate (ED) that they would file their reply to Singh's plea during the day. The ED's counsel said the apex court had on February 26 issued notice to the probe agency seeking its response on the plea. He said the reply was ready and would be filed. "You are filing it today?" the bench asked. The counsel said the ED would file the reply during the day. "Then we will keep it on next Tuesday," the bench said while posting the matter for hearing on March 19. A separate plea filed by Singh challenging his arrest and remand in the money-laundering case also came up for hearing before the ...

Money laundering case: ED raids J'hand Cong MLA Amba Prasad, linked persons

The Enforcement Directorate on Tuesday carried out searches against Jharkhand Congress MLA Amba Prasad and some others allegedly linked to her as part of a money laundering investigation, official sources said. About 17-18 premises in Ranchi and some other cities of the state were being covered, the sources said. The 36-year-old legislator represents the Barkagaon assembly seat in Hazaribag district. A clutch of FIRs related to alleged illegal sand mining, extortion and some other crimes have formed the basis of the ED action being undertaken under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.

ED marches on at a stronger footing with better infrastructure, resources

Investigative agency pivots to manpower capabilities and specialised skills

FIU imposes Rs 5.49 cr penalty on Paytm PB for money laundering violations

Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday. FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling. The money generated from these illegal operations, i.e. proceeds of crime were routed and channelled through bank accounts maintained by these entities with the Paytm Payments Bank Ltd, the ministry said. "The Financial Intelligence Unit-India (FIU-IND),... has imposed a monetary penalty of Rs 5.49 crore on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA (Prevention of Money Laundering Act)," the ministry said. The FIU passed its order imposing the penalty on February 15. The FIU action follows RBI

FATF removes UAE, Uganda, Barbados & Gibraltar from gray list of countries

An international watchdog said Friday that it was removing the United Arab Emirates from its so-called gray list of countries that don't take full measures to combat money laundering and terrorism financing. The announcement was made by the Paris-based Financial Action Task Force following its meeting in the French capital. The FATF welcomed the UAE's "significant progress in improving its anti-money laundering and counterterrorism financing policies. Barbados, Gibraltar and Uganda will also be removed from the FATF's gray list, the watchdog said in a statement Friday following its plenary meetings. They "will no longer be subject to the FATF's increased monitoring process, the watchdog said in a statement. Being on the watchdog's gray list can scare away investors and creditors, hurting exports, output and consumption. It also can make global banks wary of doing business with a country.

'No FEMA violations': Hiranandani Group on ED searches at Mumbai office

Hiranandani Group said that the inquiry was related to a 15-year-old matter and it took time to find old records

Court issues summons to brewery, its MD, 8 others in money laundering case

A special court here has issued summons to Jogeshwari Breweries Private Limited (JBPL), its managing director and eight others in a money laundering case related to allegedly obtaining a loan of more than Rs 83 crore from United Bank of India through forgery. Special judge M G Deshpande hearing cases filed under the Prevention of Money Laundering Act (PMLA) on February 17 took cognisance of the Enforcement Directorate's chargesheet against 10 accused in the case, including JBPL's managing director Umesh Shinde. The prosecution's complaint also demonstrates such trail of money, its siphoning off by way of placing, layering and integration, the court said. Hence, prima facie there is ample material and evidence to hold accused for proceedings against them for offence punishable under relevant provisions of the PMLA, the court said while issuing summons to the accused. The accused have been asked to remain present before the court on March 1. The Enforcement Directorate (ED) ...

ED files prosecution complaint against Tower Infotech, its MD, under PMLA

The complaint was filed before the Honorable Special Judge, CBI, Court No 1, City Session Court, Kolkata on February 3

PayPal registers with FIU of India under anti-money laundering law

American online payments gateway service provider PayPal has registered its operations with the Financial Intelligence Unit of India, about six years after a protracted legal battle ensued between the two entities. Official sources told PTI that the company has completed the formal procedure of being designated as a reporting entity under the Prevention of Money Laundering Act (PMLA) recently and has submitted the requisite documents to the Financial Intelligence Unit (FIU). PayPal has also appointed a principal officer, as stipulated under the anti-money laundering law, for conducting official communication with the FIU while the appointment of a director, as envisaged under the same law, is in process, they said. "PayPal has registered as a reporting entity with the Financial Intelligence Unit-India, in compliance with the Reserve Bank of India's recent regulatory framework governing cross-border payment aggregators (PA-CB), which is applicable to the PA-CB industry," a PayPal ...

UAE poised to exit global watchdog FATF's 'grey list' after reform push

The UAE is expected to come off the list on Feb. 23, which is the final day of the FATF plenary in Paris, the people said. No final decisions have been made

Delhi excise policy: ED may issue summons to CM Kejriwal for 7th time

The Enforcement Directorate is expected to issue fresh summons to Delhi Chief Minister Arvind Kejriwal for questioning in the excise policy case, official sources said. The ED sources claimed that a local court recently held Kejriwal guilty of "disobeying" the earlier notices issued to him, warranting the seventh summons. Kejriwal, 55, refused to depose before the federal agency for the sixth time on Monday with the Aam Aadmi Party (AAP) saying the ED should wait for the court's decision instead of repeatedly sending summonses to the CM, also the party's national convenor. A Delhi court on February 17 had granted exemption to Kejriwal from personal appearance for the day in connection with the complaint filed by the central agency for disobeying its summons in the excise policy-linked money laundering case. The court posted the matter for March 16 and Kejriwal's counsel assured the court of his physical appearance that day. ED sources said the agency had filed a complaint before