Hindusthan Samachar
Banner 2 शनिवार, मार्च 23, 2019 | समय 02:48 Hrs(IST) Sonali Sonali Sonali Singh Bisht

ED attaches properties of Gautam Khaitan under PMLA

By HindusthanSamachar | Publish Date: Mar 11 2019 8:18PM
ED attaches properties of Gautam Khaitan under PMLA
New Delhi, Mar.11 (HS): Enforcement Directorate(ED) has provisionally attached immovable properties of Gautam Khaitan under Prevention of Money Laundering Act, 2002 which include properties in New Delhi, Haryana and Uttarakhand. The book value of these properties is Rs. 8.46 Crores, while the present market value of these properties is much higher. Actually, ED initiated investigation under the provisions of PMLA on the basis of case booked by Income Tax Department under the Black Money (Undisclosed Foreign Income and Assets) And Imposition of Tax Act, 2015, against accused Gautam Khaitan. Accused has held the beneficial interest/ownership in foreign assets/ company/ account and had failed to disclose the same in his return of income filed before the Income Tax Authorities. It was also revealed during investigation that he had been found laundering money in various personal and companies bank accounts in Singapore and Mauritius and that he willfully did not disclose the relevant information related to the foreign bank accounts and companies which are beneficially owned by him. The investigation under the PMLA has also revealed that as per KYC documents furnished by the banks, the accused maintained 06 foreign bank accounts in his name, in the name of companies owned by him through 100 percent share holding and in joint name with his father and wife in three banks namely Barclays Bank, Singapore Bank and UBS Bank. On the analysis of these foreign bank accounts, it was revealed that he received huge amounts in foreign currencies. Documents from Foreign Banks through Letter of Requests were received from Singapore $@$# Mauritius. These documents revealed that, in order to receive huge amount of beneficial interests, Gautam Khaitan in furtherance of criminal conspiracy structured, laundered and layered the proceeds of crime i.e. black money by concealing and routing the same through his foreign bank accounts of different entities. The accused Gautam Khaitan was arrested by ED on 25th Jan this year. Investigations conducted so far have revealed that Gautam Khaitan is involved in laundering the proceeds of crime for clients across the globe under the guise of providing legal consultancy. For the same, he has been compensated and the said money has been siphoned off by the accused in his offshore bank accounts. That Gautam Khaitan is a habitual offender and there are other pending cases of corruption and money laundering against him. Investigation in the said cases had revealed his beneficial interest in undisclosed foreign entities and foreign bank accounts. Further investigation is under progress. Hindusthan Samachar/Pramod
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