NEW DELHI, May 11:
A man accused in a case of laundering money from an international drug trafficking racket has tendered an apology in a Delhi court for violating bail condition and offered to deposit Rs two lakh in PM’s relief fund to help people suffering from drought.
Amritsar resident Paramdeep Singh told the court that he wanted to repent for his mistake by contributing money in Prime Minister’s Relief Fund for drought-hit people.
Additional Sessions Judge Rakesh Pandit recorded his statement last week.
“I admit that I had violated the terms of the conditions of my bail (but under wrong guidance by my counsel). I undertake that I shall deposit Rs 2 lakh in Prime Minister’s Relief Fund as many parts of India are parched and people are not getting potable water and this money may be used for the said purpose. The same will be done by me within two days,” Paramdeep said while recording his statement.
The court was hearing a case in which Amritsar residents Gagandeep Singh and Paramdeep Singh, Delhi-based Gaurav Gupta and firm, Raja & Co Forex Pvt Ltd have been chargesheeted by Enforcement Directorate (ED) for offences punishable under provisions of the Prevention of Money Laundering Act (PMLA).
Paramdeep had violated the bail condition by traveling to Dubai without the court’s permission after which ED’s prosecutor N K Matta sought cancellation of his bail.
In its charge sheet, ED had alleged that the probe conducted by it showed that Gagandeep Singh, Paramdeep Singh and Gaurav Gupta by laundering the ill-gotten funds have directly and knowingly dealt with proceeds of crime and concealed the same as untainted property.
The three were arrested on September 25, 2015 from Amritsar and Delhi in connection with the case. They are at present out on bail.
ED had earlier told the court that the accused were involved in the illegal business of fund transfer to and from India to Australia and vice versa through banking channels and hawala route.
The money, it alleged, related to funds generated from drug trafficking and it came under proceeds of crime under PMLA.
It had also alleged that money was also transferred to the UK, the US, the UAE, Europe and Hong Kong.
The agency had said that Australian Federal Police (AFP) has been conducting probe into activities of global money laundering networks relating to drug trafficking and a Letters Rogatory had been received from the Australian authorities for assistance regarding involvement of the accused in the syndicate.
The Delhi court had also issued an LR to the competent authorities in Australia seeking their assistance in ED’s probe for collecting evidence in the case.
ED had claimed that Gaurav had a monthly transaction of Rs 50-60 lakh with Gagandeep and Paramdeep and he was involved in “illegal transaction and dealing with funds to the tune of Rs 365 crore” during September 2013 to September 2014.
The agency had told the court that a case was lodged under provisions of PMLA on September 24, 2015 and residential and business premises of the accused were searched in Amritsar and Delhi in which some documents, electronic devices, Rs 77 lakh and assorted foreign currencies were seized. (PTI)
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