Page 12 - Money Laundering

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

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.