Page 4 - Money Laundering

ED conducts fresh raids at 35 locations in Delhi excise policy case

The ED on Friday launched fresh raids in connection with its money laundering investigation into alleged irregularities in the now-scrapped Delhi excise policy, official sources said. The searches are being carried out at about 35 locations in Delhi, Punjab and some places in Hyderabad, they said. Some liquor distributors, companies and linked entities are being searched, the sources said. The Enforcement Directorate (ED) has conducted more than 103 raids in this case till now and had also arrested Sameer Mahandru, a liquor businessman and managing director of liquor manufacturing company Indospirit last month in the case. The money laundering case stems from a CBI FIR. The liquor scheme came under the scanner after the Delhi LG recommended a CBI probe into the alleged irregularities in the implementation of Delhi's Excise Policy 2021-22. He had also suspended 11 excise officials in the matter.

Credit Suisse's scandals, challenges: Spies, lies, and money laundering

Already wobbling under pressure from a declining stock price, the bank in October saw its credit default swaps surge to the highest level in two decades

Five Congress leaders to join ED's probe in National Herald case today

Five Congress leaders will appear before the Enforcement Directorate (ED) to join the investigation in connection with a Prevention of Money Laundering case pertaining to the National Herald matter

Jacqueline Fernandez gets interim bail in Rs 200 cr money laundering case

A Delhi court on Monday granted interim bail to actor Jacqueline Fernandez in a Rs 200 crore money laundering case against alleged conman Sukesh Chandrashekar. Special Judge Shailendra Malik granted Fernandez the relief on a personal bond of Rs 50,000 and posted the matter for further hearing on October 22. On August 31, predecessor judge Praveen Singh had taken cognizance of a supplementary charge sheet filed by the Enforcement Directorate and asked Fernandez to appear before the court. Fernandez, who was summoned by the ED several times in connection with the investigation, has been named as an accused for the first time in the supplementary charge sheet. ED's earlier charge sheet and a supplementary charge sheet did not mention her as an accused. The documents, however, had mentioned the details of the statements recorded by Fernandez and fellow actor Nora Fatehi. According to ED, Fernandez and Fatehi, who were examined, had received luxury cars and other expensive gifts from .

ED freezes Rs 2,747 cr worth of assets of ABG Shipyard in bank fraud case

The ED case has been filed under various Sections of the Prevention of Money Laundering Act (PMLA) after the investigators studied the CBI complaint and the forensic audit report

WBSSC scam: Partha Chatterjee, 3 others get judicial custody till Oct 5

A special CBI court here Wednesday rejected the bail prayer of former West Bengal minister Partha Chatterjee and remanded him and three others to judicial custody till October 5 in connection with its probe in the SSC recruitment scam. The three others sent to judicial custody till the same date are former West Bengal Board of Secondary Education (WBBSE) president Kalyanmoy Ganguly, who was arrested by CBI on September 15, former secretary of West Bengal School Service Commission (SSC) Ashok Saha and its former advisor S P Sinha. The order was given by a CBI court a prayer by the central investigating agency. The special court had on September 16 given CBI the custody of Chatterjee till Wednesday on a prayer by the agency for questioning him in connection with the case, which it is investigating on an order of the Calcutta High Court. Chatterjee and his alleged close associate Arpita Mukherjee were arrested by the Enforcement Directorate (ED), which is probing the reported money tr

Delhi liquor policy: ED conducts fresh raids at 40 locations across India

The ED on Friday launched fresh raids at about 40 locations across the country, including at the Delhi residence of a YSRCP MP, as part of a money laundering investigation into alleged irregularities in the now scrapped Delhi Excise Policy, official sources said. The searches are being conducted at premises linked to liquor businessmen, distributors and supply chain networks in Nellore and some other cities in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Delhi-NCR, they said. The premises linked to YSRCP Lok Sabha MP from Ongole M Sreenivasulu Reddy in Delhi are also being searched, they said. Reddy has links with liquor distributorship business. He could not be contacted by PTI despite repeated attempts. The action started early morning with agency teams being escorted by police and paramilitary personnel at the locations being searched by them. This is the second round of raids by the federal agency in this case after it first conducted searches on September 6 at about

Chinese loan apps: ED freezes Rs 46 cr kept in payment gateway accounts

The ED Friday said it has frozen Rs 46.67 crore funds of merchant entities kept in online payment gateway accounts of Easebuzz, Razorpay, Cashfree and Paytm following raids this week against a "Chinese-controlled" investment token app. The funds have been frozen under the anti-money laundering law. The latest action comes after the Enforcement Directorate (ED), earlier this month, raided the Bengaluru premises of Razorpay, Paytm and Cashfree over alleged irregularities in the operations of instant app-based loan-giving companies "controlled" by Chinese persons. Later, a seizure order for Rs 17 crore kept in their accounts was issued. The latest searches were launched on September 14 at multiple premises of the accused in Delhi, Mumbai, Ghaziabad, Lucknow and Gaya in a money laundering case being probed against an app-based token called HPZ and related entities. Sixteen premises of banks and payment gateways in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and .

School jobs scam: Ex-Bengal minister Partha's judicial remand extended

A special PMLA court here on Wednesday extended the judicial remand of former West Bengal minister Partha Chatterjee till September 28 on a prayer by the Enforcement Directorate (ED), which is probing alleged money trail in the school jobs scam. The Prevention of Money Laundering Act (PMLA) court also extended the judicial remand of Chatterjee's alleged close aide, Arpita Mukherjee, for 14 days. Rejecting a bail prayer of the former minister, Judge Bidyut Baran Roy granted 14 days' judicial remand of Chatterjee and Mukherjee on a prayer by the ED till September 28. Opposing the bail prayer, ED counsel Phiroze Edulji claimed before the court that around Rs 100 crore have so far been recovered in the form of cash and assets of Mukherjee, the alleged associate of the former minister. Produced before the court through the virtual mode from Presidency Correctional Home here, Chatterjee prayed that he be granted bail. His lawyers were present before the judge physically. The judge grant

Pakistan 'lacks effectiveness' on four goals linked to FATF: Report

The Asia-Pacific Group of the FATF, a global watchdog for terror financing and money laundering, has rated Pakistan's level of effectiveness as low' on 10 out of 11 international goals on anti-money laundering and combating the financing of terror, a media report said on Tuesday. Asia-Pacific Group (APF), the Sydney-based regional affiliate of the Financial Action Task Force (FATF), released an update as of September 2 on the rating of its regional members suggesting that Pakistan had a moderate level of effectiveness' on only one out of 11 outcomes, reported Dawn. Under this immediate outcome', Pakistan extends international cooperation on appropriate information, financial intelligence, and evidence and facilitates action against criminals and their assets. A 15-member joint delegation of FATF and APG paid an onsite visit to Pakistan from August 29 to September 2 to verify the country's compliance with a 34-point action plan committed with FATF at the highest level in June 2018, t

ED inquiry on CoinSwitch not linked to money laundering under PMLA: CEO

"Enforcement Directorate-Bengaluru has been engaged with us with respect to functioning of our crypto platforms/exchanges. We are fully cooperating with them," he said in a tweet thread.

Supreme Court set to review PMLA verdict, reconsider two provisions

The court said it would re-examine two provisions of the Prevention of Money Laundering Act (PMLA)

What is PMLA Act? Money laundering, law statement and objectives

What is the Prevention of Money Laundering act and how does it affect a nation? Read this article to understand money laundering, the PMLA act, objectives of the PMLA act, FATF and everything

SC allows hearing of review plea by Karti Chidambaram against PMLA judgment

According to Chidambaram, the judgment deserves to be reviewed on grounds of grave error and being contradictory to earlier judgments and provisions of the Constitution.

Asia Pacific Group removes Russia's observer status over Ukraine war

The decision to remove Russia's status was taken last month in Malaysia during the annual meeting of the APG

ED files money laundering case against Manish Sisodia under PMLA

The ED will probe if there were alleged irregularities in the formulation and execution of the Delhi Excise Policy unveiled in November last year

SC stays proceedings before High Court against Jharkhand CM Hemant Soren

The bench during the hearing observed, "We are only concerned with this. The CM already had 0.88 acres of land before he assumed office. It's not as if the office was misused to amass wealth

Jacqueline Fernandez shares quote on social media amid ED trouble

Actor Jacqueline Fernandez, who was on Wednesday named as an accused in the charge sheet filed by the Enforcement Directorate in a multi-crore money laundering case linked to alleged conman Sukesh Chandrashekhar and others, shared a post on her social media page saying she will remain "strong" in these testing times. The federal probe agency filed the fresh (second supplementary) charge sheet or prosecution complaint in this case on Wednesday before a special Prevention of Money Laundering Act (PMLA) court in Delhi and, according to sources, the actor has been arraigned in it as an accused. While Fernandez didn't directly comment on the case, she re-shared an anonymous motivational quote on her Instagram stories. "Dear me, I deserve all good things, I'm powerful, I accept myself. It'll all be ok. I'm strong, I'll achieve my goals and dreams. I can do it (sic)," read the post. The 36-year-old actor, known for films such as "Kick", "Bhoot Police'' and most recently "Vikrant Rona", is

ED attaches Rs 370 cr deposits, including crypto assets of a Bengaluru firm

The federal agency froze the funds after it raided the premises of the company, Yellow Tune Technologies Pvt. Ltd, located in Karnataka's capital city over three days, starting August 8.

Ten crypto exchanges under ED lens for allegedly laundering Rs 10 billion

Many investors were traced based on their KYC details available with these crypto exchanges, but they were found to be fake or different from the real ones