The ED has filed its first chargesheet in money laundering cases resulting from demonetisation against officials of an Axis bank branch here and others for alleged illegal conversion of scrapped currency notes.
The ED has filed its first chargesheet in money laundering cases resulting from demonetisation against officials of an Axis bank branch here and others for alleged illegal conversion of scrapped currency notes.
The agency filed the chargesheet, called prosecution complaint in the Enforcement Directorate (ED) parlance, before a special Prevention of Money Laundering Act court here on Friday.
The case was first detected by Delhi Police after it intercepted three persons with about Rs 3.7 crore cash in old notes in front of the Axis Bank branch in November last year. The ED took cognisance of the police FIR and slapped money laundering charges against the accused.
The trio was arrested by it in December last year under PMLA and are currently in judicial custody.
Detailing their modus operandi, the agency said, the trio used to "deposit money after banking hours at around 6 pm”, they also added,
ED said, "It all started when following demonetisation (on 8 November 2016) people with illegal money began converting their old currency notes into gold/legal tender.
These bullion traders wanted payments in RTGS/transfer of money through banking channel for the sale of gold as old currency was not accepted.
"Some of such elements contacted Kushwaha and his associates for this purpose. Kushwaha was having various fictitious companies/firms namely Ms Himalaya International, Ms RD Trader and Ms Beagle Marketing and Ms Sunrise Trading." The chargesheet further said:
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)