Friday, Apr 26, 2024 | Last Update : 04:49 AM IST
5 Hong Kong firms’ heads summoned
Companies forged bills to assist Sanjay Jain in laundering Rs 600 crore.
Mumbai: Following the arrest of the former director of Hindmata Gold cinema Sanjay Jain in import remittance fraud to the tune of Rs 600 crore, the Enforcement Directorate (ED) has now summoned directors of five Hong Kong-based companies. These companies issued forged receipts and bills to project that the import of diamonds was taking place.
The ED officials said that the accused directors are Indians based in Mumbai, and the remittance money was sent to those companies as a part of pre and post-import payments. The remittances were made through submission of forged bills of entry and invoices to the bank.
These companies are shown as gem companies on the letterheads of the forged receipts which were used to project that trade was carried out with Jain and Vijay Kothari, the kingpin in the scam.
“These persons assisted in laundering the money that was diverted to Hong Kong by showing it as payments to their companies in lieu of import of diamonds. But there was no purchase, and hence the bills are fake,” said an ED officer.
The four directors are stated to be the crucial link in the case. The ED has sent them summons seeking documents pertaining to the bank deposits.
The money trail is key to the investigation, and these persons will help in identifying the route taken transfer Rs 600 crore that is parked in at least 14 bank accounts in Hong Kong. The ED is in the process of sending a Letters Rogatory (LR) to Hong Kong seeking details of the money trail.
Meanwhile, the proclamation process of Kothari began in a special prevention of Money Laundering Act (PMLA) court has begun. The court asked him to appear before the judiciary by November 13. Authorities suspect that Kothari is holed up in Hong Kong, where most of the scam money was forwarded.
Kothari is one of the main accused in the Enforcement Directorate’s alleged Rs 600 crore remittance fraud case in which the ED also arrested Sanjay Jain in late October.
The agency has arrested three persons in all in the case including Jain, Anil Chokhara and Saurav Pandit. The officials are yet to identify the ownership of the money, around Rs 600 crore, that made way to Hong Kong in the form of import remittances.
