NEW DELHI, Nov 22:
The Enforcement Directo- rate today filed a charge sheet in a Delhi court against four accused, including an Amritsar-based firm, in connection with a case of alleged laundering of money globally in a drug trafficking racket.
The charge sheet was filed by the Enforcement Directorate (ED) before District Judge I S Mehta who assigned the case to Additional Sessions Judge (ASJ) Neena Bansal Krishna. The charge sheet has been fixed for consideration on November 25.
Amritsar residents Gagandeep Singh and Paramdeep Singh, Delhi- based Gaurav Gupta and firm, Raja & Co Forex Pvt Ltd have been charged with offence punishable under the provision of the Prevention of Money Laundering Act (PMLA).
“Investigation has shown that the accused Gagandeep Singh, Paramdeep Singh alias Raja and Gaurav Gupta by laundering the ill-gotten funds have directly and knowingly dealt with proceeds of crime and concealed/projected the same as untainted property and hence have committed the offence of money laundering defined (under) section 3 of PMLA which is punishable under section 4 of PMLA where maximum punishment is upto 10 years rigorous imprisonment with fine,” the charge sheet filed through ED’s prosecutor Naveen Kumar Matta said.
In the charge sheet filed by ED’s Assistant Director Man Singh Yadav, the probe agency said, “Since the matter has international ramifications, enquiries have been initiated with other countries to collect further evidence in this case”.
The three accused were arrested on September 25 from Amritsar and Delhi in connection with the case.
ED has told the court that these accused were involved in illegal business of fund transfer to and from India to Australia and vice versa through banking channels and hawala route relating to funds generated out of drug money which was in fact proceeds of crime under the PMLA.
It also alleged that money was also transferred to the United Kingdom (UK), the US, the UAE, Europe and Hongkong.
ED said that Australian Federal Police (AFP) has been conducting probe into activities of global money laundering networks relating to drug trafficking and a letter of request was received from the Australian authorities for assistance regarding involvement of these accused in the syndicate.
The court had earlier issued a letter of request to the competent authorities in Australia seeking their assistance in ED’s probe for collecting evidence in the case.
Regarding Gagandeep Singh, ED alleged in its charge sheet that he was “involved in laundering of proceeds of crime through companies namely M/s Raja & Co Forex Pvt Ltd in India and Billion Trend HK Trading Ltd in Hong Kong” to which funds were transferred from companies in Australia.
It claimed that accused Gupta had 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.
“….This court may be pleased to take cognisance of the offence against the accused namely Gagandeep Singh, Paramdeep Singh, Gaurav Gupta and Raja and Co Forex Pvt Ltd, controlled by Gagandeep Singh and Paramdeep Singh, for committing the offence of money laundering…,” it said.
The agency had earlier told the court that a case was lodged under provisions of PMLA on September 24 and residence 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.
ED had claimed that these arrested accused were linked with their alleged associates Gulshan Kumar, Mandeep Singh and Sanjeev Kumar Saini in Australia and Bunty Sharma in Germany.
The agency had also said that Gulshan and Mandeep are under investigation by AFP for allegedly dealing with proceeds of crime suspected to be of drug syndicate and organised crime groups identified by it.
“Australian dollars to the tune of AUD 98,09,379 and AUD 103,15,595 have been transferred from the accounts of Gulshan Kumar and Sanjeev Kumar Saini through their companies to the accounts of Gagandeep Singh and Paramdeep Singh respectively,” it had said. (PTI)
Follow our WhatsApp channel