Page 5 - Money Laundering

National Herald case: ED alleges ₹2,000 cr grab by Sonia, Rahul-linked firm

A "criminal conspiracy" was carried out by Congress leaders to "usurp" properties worth Rs 2,000 crore of its public company AJL by transferring 99 per cent shares for just Rs 50 lakh to their private company Young Indian, where Sonia Gandhi and Rahul Gandhi are the majority shareholders, the ED is learnt to have said in its chargesheet in the National Herald case. Former Congress president Sonia Gandhi was named accused no 1, and her son and Leader of Opposition in Lok Sabha Rahul Gandhi as accused no 2 by the federal probe agency in the prosecution complaint filed under various sections of the Prevention of Money Laundering Act (PMLA) before the court of Special Judge Vishal Gogne. The other accused named in the Enforcement Directorate chargesheet filed on April 9 are Congress party associates Suman Dubey and Sam Pitroda, two companies Young Indian and Dotex Merchandise Pvt Ltd and Sunil Bhandari (of Dotex Merchandise). The ED has filed the chargesheet under sections 44 and 45 of

Will Mehul Choksi be extradited? What the India-Belgium Treaty says

With diamond businessman Mehul Choksi's arrest, all eyes turn to Belgium as India awaits greenlight on extradition

Mehul Choksi detained in Belgium; India initiates extradition process

The fugitive diamantaire, wanted in the infamous Punjab National Bank fraud case, was granted residency in Belgium on November 15, 2023

'Think of people's rights too': SC slams ED over bid to move NAN scam case

Supreme Court criticised ED for ignoring fundamental rights in plea to transfer NAN scam case

ED attaches Rs 95 cr worth assets of Gurugram realty firm SBPL in PMLA case

The Enforcement Directorate on Monday said it has attached assets worth about Rs 95 crore as part of a money laundering investigation against a Gurugram-based real estate company and its promoter on charges of duping more than 950 homebuyers. The action has been taken against Sidharth Chauhan, promoter of Sidhartha Buildhome Pvt. Ltd. (SBPL), his companies and some other persons, the federal probe agency said in a statement. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) for attaching land parcels, residential house and commercial building in Gurugram (Haryana), it said. These properties are worth Rs 94.82 crore, acccording to the agency. The company or its promoter could not be contacted for their response on the allegations made by the ED against them. The money laundering case stems from a clutch of FIRs filed by the Economic Offences Wing (EOW) of Delhi Police. The EOW complaints were registered on the basis of complaints of various ..

India, Mauritius ink pact during PM's visit to curb money laundering, graft

During the recent visit of Prime Minister Narendra Modi, India and Mauritius signed an agreement to enhance cooperation in combating money laundering, corruption, fraud, asset recovery and the financing of illicit activities, the ED said Thursday. The collaboration between Enforcement Directorate (ED) and the Financial Crimes Commission (FCC) of Mauritius will "bolster" financial enforcement capabilities and will also contribute to broader economic and security cooperation between the two nations, the federal probe agency said in a statement. The Memorandum of Understanding (MoU) was exchanged in the presence of Modi and Prime Minister of Mauritius Navinchandra Ramgoolam. During the discussions leading to the MoU, the ED and the FCC explored the possibilities of "joint operations" to detect, investigate and prosecute cross-border money laundering offences, according to the ED. They also underlined the significance of exchange programmes, experience sharing, training and skill build

Vanuatu cancels Lalit Modi's passport for 'attempt to avoid extradition'

This comes days after Lalit Modi, founder of the Indian Premier League (IPL), applied to surrender his Indian passport at the Indian High Commission in London

ED attaches Rs 65 cr assets linked to ex-GM of Sikkim Bank in fraud case

The Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs 65.46 crore in connection with a money laundering case involving a former general manager-ranked officer of a Sikkim-based bank. The ED said in a statement that the attached assets include four residential properties and land parcels located in Deorali, Syari, Ranipool and Penlong - all in Sikkim. These properties were allegedly acquired using proceeds from fraudulent activities linked to siphoning of funds from the State Bank of Sikkim (SBS) by Dorjee Tshering Lepcha, its former general manager (operations). Additionally, several bank accounts with a combined deposit of approximately Rs 53.41 crore in the names of Lepcha and his family members have also been frozen, the statement said. These actions are parts of an ongoing investigation into the misappropriation and laundering of funds from the bank under the Prevention of Money Laundering Act (PMLA), 2002. Established in 1968

Delhi HC grants bail to Christian Michel in Rs 3,600 cr AgustaWestland case

The Delhi High Court on Tuesday granted bail to alleged middleman Christian Michel James in the Rs 3,600-crore AgustaWestland money laundering case. Justice Swarana Kanta Sharma granted the reprieve to James after the order on his bail plea was reserved on February 28. Details of the order are awaited. The Supreme Court previously granted bail to the British national in a related CBI case on February 18. Probe agencies reported irregularities in the purchase of 12 VVIP helicopters from Italian manufacturing company AgustaWestland. The ED's counsel opposed Michel's plea, saying the British national did not meet the "twin tests" for grant of bail under the Prevention of Money Laundering Act and was a flight risk. Michel's lawyer sought the relief on grounds that he had already spent a substantial amount of time in custody. He earlier submitted while the anti-money laundering law has a maximum punishment of seven years, he spent over six years in jail. James was extradited from Du

Court directs ED to supply papers in excise policy case against Kejriwal

A Delhi court has directed the ED to hand over certain documents to the accused persons in a money laundering case against former Delhi chief minister Arvind Kejriwal and others in relation to alleged excise scam. Special judge Kaveri Baweja passed the order on February 25 on applications moved by multiple accused persons, claiming that they had not received some documents relating to the chargesheet filed in the case. The court, which is currently conducting scrutiny of documents, posted the matter -- also involving AAP leaders Manish Sisodia and Sanjay Singh as accused -- on March 3. "Put up for further proceeding on the next date of hearing, i.e., March 3," the judge said. The money laundering case stems from a CBI case lodged after Delhi Lieutenant Governor V K Saxena recommended a probe into the alleged irregularities in the implementation of the excise policy. According to the CBI and the ED, irregularities were committed while modifying the policy and undue favours were ...

Delhi court grants bail to man accused in Rs 329 cr money laundering case

A Delhi court has granted bail to a man arrested in a money laundering case linked to alleged illegal transfer of funds worth Rs 329 crore outside India using "forged" import bills. Additional Sessions Judge Aparna Swami granted relief to Jatin Chopra, who was taken into custody on September 15, 2024, saying that "owing to further investigation which is pending, the trial of the applicant cannot commence". "If the applicant is left to languish in custody for the said further investigation to be completed, it would frustrate the objective of law which guarantees to the accused the right not to be detained beyond 90 days on account of pendency of investigation," the judge said in an order passed on February 20. Advocate Dhruv Gupta appeared for the applicant. The Enforcement Directorate had arrested Chopra, claiming that he "failed" to join the probe despite being summoned several times. The money laundering case stems from an FIR lodged by the Special Cell of the Delhi Police. The

President Murmu approves ED's request to prosecute AAP's Satyendar Jain

Delhi Excise policy case: The approval comes after the Ministry of Home Affairs sought the President's sanction for initiating legal action against Jain last week

Former Mauritian PM Jugnauth arrested in money laundering investigation

Jugnauth denies the allegation, lawyer Raouf Gulbul said in an interview posted on defimedia.info's Facebook page

Wadhwan brothers secure bail in 2020 YES Bank money laundering case

The Bombay High Court granted bail to DHFL promoters Dheeraj and Kapil Wadhwan in connection with the 2020 Yes Bank money laundering case, citing their long incarceration and the unlikelihood of the trial starting soon. A single bench of Justice Milind Jadhav on Wednesday granted bail to the brothers on a bond of Rs 1 lakh each. The bench said the Dewan Housing Finance Limited (DHFL) promoters have been in custody for four years and nine months and there was no possibility of the trial commencing in the near future. Detaining an undertrial prisoner for such an extended period further violates his fundamental right to speedy trial flowing from Article 21 of the Constitution, HC said. In my opinion, further incarceration of the applicants (Wadhwans) is not required and they are entitled to bail without entering into the merits of the case at this stage, the court said. Considering the present status of the trial and the unlikelihood of it being concluded in the foreseeable future ..

ED freezes 30 bank accounts in money laundering case linking QFX Trade Ltd

ED initiated investigation on the basis of multiple FIRs registered by Himachal Police against QFX company

US Supreme Court allows small business registration rule to take effect

The Supreme Court has revived a requirement that owners of millions of small businesses register with an arm of the Treasury Department charged with fighting money laundering and other financial crimes. The justices granted an emergency plea made by the Justice Department in the waning days of the Biden administration to allow enforcement of the Corporate Transparency Act, enacted in 2021 to crack down on the illicit use of anonymous shell companies. Owners and part-owners of an estimated 32.6 million small businesses must register personal information with Treasury's Financial Crimes Enforcement Network, or FinCEN. The information includes photo IDs and home addresses. It's unclear whether the Trump administration will devote much effort to enforcing the registration requirement, which has been opposed by Republican-led states and lawmakers, as well as conservative and business interest groups. The registration requirement was blocked by a federal judge in Texas, who ruled that ..

Money laundering case: SC junks ED plea against bail to NCP leader Bhujbal

In a relief to senior NCP leader Chhagan Bhujbal, the Supreme Court on Tuesday dismissed the plea of the Enforcement Directorate challenging the bail granted to him in a money laundering case. A bench of Justices Abhay S Oka and Ujjal Bhuyan however rejected Bhujbal's plea challenging his arrest in the matter saying the petitioner was released on bail in 2018, and it was not necessary to go into the question of illegality of his arrest at the present stage. "Impugned orders granting bail have been passed way back in the year 2018. Therefore no case for interference is made out at this stage under Article 136 of the Constitution. The SLPs are dismissed," it held. The Bombay High Court on May 4, 2018, granted bail to Bhujbal in the money laundering case. The former Maharashtra deputy chief minister was arrested after an ED inquiry revealed he and his associates had allegedly misused their office and caused financial loss to the government. According to the ED, Bhujbal awarded contra

Delhi HC to hear ED plea against Arvind Kejriwal's bail on March 21

The Delhi High Court on Friday set March 21 to hear the enforcement directorate's plea against the bail granted to former chief minister Arvind Kejriwal in the excise policy-linked money laundering case. Justice Vikas Mahajan adjourned Friday's hearing on the request of the enforcement directorate's (ED) counsel. The senior counsel representing Kejriwal opposed the request for adjournment saying ED repeatedly took dates in the past several months. He urged the court to hear the matter and grant bail to Kejriwal saying other accused were granted bail in the money laundering case. "There is an impending election. Why should this sword be hanging over him? If bail is well given to all 15 accused, why should it be kept pending for him?" asked Kejriwal's counsel. The ED counsel said no prejudice was caused to Kejriwal on account of the adjournments as he was already on interim bail granted by the Supreme Court in the matter. "I will set it down for hearing.. No prejudice is caused to

Supreme Court denies bail to ex-PFI chairman Abubacker in UAPA case

The Supreme Court on Friday refused to grant bail on medical grounds to former chairman of the outlawed Popular Front of India (PFI) E Abubacker in a case registered against him under anti-terror law UAPA. Abubacker, who was arrested by the National Investigation Agency (NIA) during a massive crackdown on the organisation in 2022, had approached the high court after the trial court rejected his bail application. A bench of Justices MM Sundresh and Rajesh Bindal said it was not inclined to release Abubacker at this stage after looking at the medical report. According to the central anti-terror agency, the PFI, its office bearers and members hatched a criminal conspiracy to raise funds for committing acts of terror in various parts of the country and were organising camps to indoctrinate and train their cadre for this purpose. In his plea, Abubacker claimed he is in his 70s, has Parkinson's disease, and had also undergone surgery for treatment of cancer. He contended that on merits a

SC criticises ED over bail conditions for women in money laundering cases

The Supreme Court has strongly criticised the Enforcement Directorate for submitting that rigorous bail conditions in money laundering cases will apply to women despite a statutory exception explicitly provided under the law. A bench comprising Justices Abhay S Oka and Augustine George Masih, while hearing the bail plea of Shashi Bala, a government school teacher accused in a money laundering scam involving the Shine City Group of Companies, called the ED's submissions "contrary to statute" and emphasised that such arguments would not be tolerated. "We will not tolerate conduct... to make submissions contrary to statute," the bench said and granted bail to Bala in the case, saying she had been in custody since November 2023 and there was little likelihood of her trial concluding anytime soon. "If people who appear for the Union of India do not know basic provisions of law, why should they appear in the matter," the bench said on Wednesday. The ED argued that the stringent bail ...