Chennai:
A Mumbai-based money launderer was arrested by the Enforcement
directorate for laundering over Rs 19 crore funds sourced by him and
others after defrauding a national bank.
The arrest comes close on the heels of the arrest of Bollywood actress
Leena Paul and her partner Sekhar Chandrashekhar in an alleged case of
cheating dating back to 2013 when Canara Bank registered a criminal
case with Chennai Police for cheating and duping of Rs 19.21 crore
funds against a few of its officials, private entities and Bollywood
actress Leena Maria Paul
K S V V Prasad, joint director of Enforcement directorate said that
during the investigations under Prevention of Money Laundering Act,
2002, it was found that Ajit Jain and Meghraj Jain of Mangal Royal
Jewels were instrumental in laundering the proceeds of crime worth Rs
19 crore.
“They received the money from Future Techniks, Chennai in the name of
several dummy companies and paid the mastermind Sukash Chandrasekhar
in cash on commission basis,” he said.
Ajit Jain has confessed that he is instrumental in laundering the
proceeds as such he was arrested under the provisions of Prevention of
Money Laundering Act (PMLA), 2002 and was remaded to judicial custody.
He is now lodged in Central Prison, Puzhal, Prasad said.
Rao said that investigations into the case revealed that the money was
transferred to six Mumbai based companies through RTGS and the amounts
were used for several purposes posing it as untainted money.
“Based on the investigations, two provisional attachment orders were
issued so far attaching an amount of about rs 13 crore available in
various bank accounts and nine luxury cars worth Rs 7 crore. Both the
orders were confirmed by PMLA adjudicating Authority in New Delhi,”
said Rao.
Interestingly, besides the arrest of Leena Maria Paul and Sukash, the
Central crime Branch in Chennai based on a complaint from Canara Bank
has already registered a case and arrested both managing director and
director of Future Techniks and then chief general manager of Canara
Bank in Ambattur on 2013.
A Mumbai-based money launderer was arrested by the Enforcement
directorate for laundering over Rs 19 crore funds sourced by him and
others after defrauding a national bank.
The arrest comes close on the heels of the arrest of Bollywood actress
Leena Paul and her partner Sekhar Chandrashekhar in an alleged case of
cheating dating back to 2013 when Canara Bank registered a criminal
case with Chennai Police for cheating and duping of Rs 19.21 crore
funds against a few of its officials, private entities and Bollywood
actress Leena Maria Paul
K S V V Prasad, joint director of Enforcement directorate said that
during the investigations under Prevention of Money Laundering Act,
2002, it was found that Ajit Jain and Meghraj Jain of Mangal Royal
Jewels were instrumental in laundering the proceeds of crime worth Rs
19 crore.
“They received the money from Future Techniks, Chennai in the name of
several dummy companies and paid the mastermind Sukash Chandrasekhar
in cash on commission basis,” he said.
Ajit Jain has confessed that he is instrumental in laundering the
proceeds as such he was arrested under the provisions of Prevention of
Money Laundering Act (PMLA), 2002 and was remaded to judicial custody.
He is now lodged in Central Prison, Puzhal, Prasad said.
Rao said that investigations into the case revealed that the money was
transferred to six Mumbai based companies through RTGS and the amounts
were used for several purposes posing it as untainted money.
“Based on the investigations, two provisional attachment orders were
issued so far attaching an amount of about rs 13 crore available in
various bank accounts and nine luxury cars worth Rs 7 crore. Both the
orders were confirmed by PMLA adjudicating Authority in New Delhi,”
said Rao.
Interestingly, besides the arrest of Leena Maria Paul and Sukash, the
Central crime Branch in Chennai based on a complaint from Canara Bank
has already registered a case and arrested both managing director and
director of Future Techniks and then chief general manager of Canara
Bank in Ambattur on 2013.
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