ED nabs 2 accused for hawala transactions after demonetization, to conceal illegal cash
Both the accused have been arrested and produced before Special Court, PMLA. They have been sent to judicial custody and their ED custody for custodial interrogation.
New Delhi: The Enforcement Directorate (ED) has arrested 2 accused namely Raj Kumar Goenka and Pankaj Agrawal on 22.09.2020, in the case of misuse of banking channels for hawala and huge cash transaction post demonetization.
Raj Kumar Goenka and Ashok Kumar Goenka of Muzaffarpur fraudulently and dishonestly got opened several bank accounts by misusing photographs and documents of their employees. These accounts were utilized for huge cash deposits without the knowledge of the account holders. These cash deposits in the accounts were transferred by way of RTGS/NIFT to the Bank accounts of their associates located in various cities viz, Kolkata, Delhi, Mumbai etc. These persons used to receive cash against cheque from various entities and the cash so received used to be given to the person/entity, on behalf of whom, cash was received by Goenka Brothers in Muzaffarpur.
On the basis of FIR No. 298/16 dated 22.12.2016 registered with P.S. Mithanpura, Distt-Muzaffarpur, Bihar for the offence punishable under section 120B , 420, 467 & 471 of IPC, ED initiated investigation against Raj Kumar Goenka&Ors.
Investigation under Prevention of Money Laundering Act, 2002 (PMLA) revealed that proceeds of crime totalling to Rs. 25.80 crores which were deposited in these bank accounts and were subsequently dishonestly transferred and layered through various bank accounts with an intention to launder the tainted money to project the same as untainted. Provisional attachment order dated 4.12.2019 was issued attaching POC worth Rs. 4.61 Crores.
Search was conducted at Kolkata on the premises of Pankaj and documents relating to shell companies controlled by Pankaj Agrawal were recovered. It is revealed that Pankaj Agarwal was facilitating the money laundering at Kolkata in collusion with Raj Kumar Goenka at Muzaffarpur. Investigation further reveals that Pankaj Agrawal and Raj Kumar Goenka have also made huge investment in immovable properties & movable properties held in their own name, in the name of their family members and in the name of companies controlled by them.
Both the accused have been arrested and produced before Special Court, PMLA. They have been sent to judicial custody and their ED custody for custodial interrogation is being sought.
Further investigation is under progress.