Page 13 - Money Laundering

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

ED claims court accepted offence by Arvind Kejriwal for refusing summons

The complaint was filed against Kejriwal for intentionally disobeying the first three summons issued to him, sources said

Delhi excise policy case: CM Kejriwal skips ED summons for sixth time

Delhi Chief Minister Arvind Kejriwal will not appear before the Enforcement Directorate on Monday for questioning in a money laundering case linked to the Delhi excise policy, the AAP said. Terming the agency's sixth summons to its national convener as "illegal", the party said that the ED should wait for the court's decision instead of repeatedly sending summonses to Kejriwal. The Enforcement Directorate (ED) had approached a city court after Kejriwal skipped multiple summonses. On Saturday, the court had granted exemption to Kejriwal from personal appearance for the day in connection with the complaint filed by the central agency. The application moved by Kejriwal's counsel stated that the Budget Session of the Delhi assembly has commenced on February 15 and shall continue till the first week of March. He will physically appear before the court on the next date of hearing on March 16, it said.

Money laundering: ED makes 9th arrest in Mahadev betting app case

The Enforcement Directorate (ED) on Friday said it has made a fresh and the ninth arrest in connection with its money-laundering probe into the alleged illegal operations of the Mahadev online gaming and betting application that purportedly involve high-ranking politicians and bureaucrats from Chhattisgarh. Nitish Diwan was taken into custody under the Prevention of Money Laundering Act (PMLA) in Raipur on Thursday and a special court sent him to the ED's custody till February 24, the federal agency said in a statement. This is the ninth arrest in the case by the ED. It earlier arrested Nitin Tibrewal, a resident of Kolkata, Raipur-based Amit Agrawal, alleged cash courier Asim Das, police constable Bheem Singh Yadav, Assistant Sub-Inspector Chandrabhushan Verma, alleged "hawala" operator brothers Anil and Sunil Dammani and a man identified as Satish Chandrakar. "Nitish Diwan was working at the highest level of Mahadev Online Book (MOB) in the UAE. He was close to the promoters of th

7 held by HK customs for $1.8 bn money laundering case linked to India

At least seven persons were arrested by Hong Kong customs authorities on Friday in connection with the territory's biggest money-laundering case involving a whopping HKD 14 billion (USD 1.8 billion) some of it was linked to a mobile app scam case in India. The syndicate used stooge bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said. The operation was linked to a mobile app scam in India and two jewellery companies in the country, which allegedly handled about HKD2.9 billion (USD 371 million) of the funds, Suzette Ip Tung-ching, the head of customs' financial investigation bureau told the media in Hong Kong. Ip described the amounts laundered as astonishing with one of the accounts receiving as much as HKD100 million (USD 12.8 million) a day and carrying out as many as 50 daily transactions. Some of those arrested were non-Chinese residents of Hong Kong, she said without .

Excise scam: ED issues 6th summons to CM Kejriwal in money laundering case

The Enforcement Directorate has issued a fresh and the 6th summons to Delhi Chief Minister Arvind Kejriwal for his questioning in the excise policy linked money laundering case, official sources said Wednesday. The 55-year-old leader, also the national convener of the Aam Aadmi Party (AAP), has been asked to depose before the federal agency on February 19. A Delhi court last week had asked Kejriwal to appear before it on February 17 acting on a complaint filed by the ED for disobeying ED summons in this case and noted that prima facie the AAP chief was "legally bound" to comply. This is the 6th summons in this case by the ED to the former Indian Revenue Service (IRS) officer. He was earlier called on dates like February 2, January 18 and January 3 this year and December 21 and November 2 in 2023. The CM has always called these notices "illegal".

Ex-NCB officer Sameer Wankhede moves HC against ED's money laundering case

Former Mumbai NCB zonal director Sameer Wankhede has moved the Bombay High Court challenging the Enforcement Directorate's money laundering case against him, claiming that it was a "counter blast" to a complaint filed by him against the anti-drug agency's senior official. The ED registered the money laundering case against Wankhede after taking cognisance of a Central Bureau of Investigation (CBI) FIR in an alleged Rs 25 crore bribe demand from Bollywood superstar Shah Rukh Khan's family to spare his son Aryan Khan in a drugs case. Wankhede, a 2008-batch Indian Revenue Service (IRS) officer of the Customs and Indirect Taxes cadre, in his plea said the ED's case "smacks of malice and vendetta". The petition filed on February 6 through advocates Karan Jain, Sneha Sanap and Aditya Targe sought for the ED case to be quashed and an interim order to be passed granting him protection from any coercive action. Wankhede also sought for the probe being carried out by the ED to be stayed till

ED raids Karnataka Congress MLA Nara Bharath in money-laundering case

The Enforcement Directorate (ED) raided more than a dozen locations in Karnataka on Saturday as part of a money-laundering investigation against Congress MLA Nara Bharath Reddy and some others, official sources said. The premises of the 34-year-old legislator from Bellary and some other locations in Karnataka and Telangana are being searched, they said. Officials of the central agency searched Reddy's locations in Bellary and Bengaluru. The money-laundering case against Reddy stems from an FIR lodged by the Karnataka Police and allegations of land deals that are under the ED's scanner. Some mining and quarrying businesses allegedly linked to the MLA are also being investigated by the agency.

ED files case against ex-NCB Mumbai Zonal Director Sameer Wankhede

The Enforcement Directorate has registered a money laundering case against former Mumbai NCB zonal director Sameer Wankhede taking cognisance of a CBI FIR in an alleged Rs 25-crore bribe demand from superstar Shah Rukh Khan's family to spare his son in a drugs case, official sources said Saturday. The central agency has booked the case under the Prevention of Money Laundering Act (PMLA), they said. Some former Narcotics Control Bureau (NCB) officials have also been summoned. Wankhede, a 2008-batch Indian Revenue Service (IRS) officer of the Customs and Indirect Taxes cadre, has moved the Bombay High Court seeking protection from any coercive action by the anti-money laundering agency. He was booked by the CBI in May last year on charges of seeking Rs 25-crore bribe for not framing Shah Rukh Khan's son Aryan Khan in the drugs-on-cruise case, officials had said. Aryan Khan was arrested in the alleged drug bust case on the Cordelia cruise ship on October 2, 2021. The Central Bureau

Money laundering probe against Soren: ED summons Cong MP Dhiraj Sahu

The Enforcement Directorate has summoned Congress Rajya Sabha MP from Jharkhand Dhiraj Prasad Sahu for questioning in a money laundering case in which the central agency arrested former chief minister Hemant Soren, official sources said Thursday. Sahu, 64, was in the news after the Income-tax department in December recovered Rs 351.8 crore cash, an all-time high seizure, during raids against Odisha-based Boudh Distillery Pvt. Ltd. (BDPL), promoted by the family of the Congress legislator. Sources said the ED wants to question and record Sahu's statement in connection with his purported links with Soren and a BMW SUV that was seized by the agency from the JMM leader's house in Delhi sometime back. The agency raided a premise in Kardarpur village in Gurugram on Wednesday on whose address this Haryana number plate bearing SUV was registered, the sources said. Two locations in Kolkata were also searched in the same case on Wednesday. The ED suspects this vehicle to be allegedly linked

Sanjay Singh gets nod from court to attend Parliament to take oath as RS MP

A Delhi court on Tuesday granted fresh permission to AAP leader Sanjay Singh, arrested in alleged excise scam, to attend Parliament to take oath as a Rajya Sabha MP. Special Judge MK Nagpal allowed Singh to go to Parliament in police custody either on February 8 or 9. The judge passed the order on the application filed by Singh, seeking directions to the jail superintendent concerned for taking him physically to Rajya Sabha to take oath as its member. The judge had earlier on February 3 allowed a similar application filed by Singh. However, the AAP leader could not take oath despite reaching Parliament on Monday. Official sources cited the direction of Rajya Sabha on August 11, 2023 that Singh's suspension for unruly conduct during the monsoon session will remain in force and he cannot attend proceedings till the Privileges Committee submits its report and it is considered by the House. The application sought direction to the authorities concerned to take him again to Rajya Sabha

AAP leader Sanjay Singh not allowed to take Rajya Sabha oath: Reports

Jailed AAP leader Sanjay Singh, who has been re-elected to Rajya Sabha from Delhi, on Monday could not take oath as it was not listed in the business of the House, sources in the Rajya Sabha secretariat said. Singh, who is in judicial custody in a money laundering case linked to the alleged Delhi excise policy scam, came to Parliament to take oath following permission from a Delhi court. The Aam Aadmi Party said Singh should have been allowed to take oath but official sources cited the August 11th direction of the Upper House that Singh's suspension for unruly conduct during the Monsoon session will remain in force and he cannot attend proceedings till the Privileges Committee submits its report and it is considered by the House. That the matter pertains to Singh's previous term has no impact on this, they said. "Summons (for oath taking) were not issued to Sanjay Singh who had also been elected, as he suffered the directives of the House passed on 11th August 2023 disentitling him