ED restitutes property worth Rs 13.58 cr to victims in a fake remittances case
As per the federal anti-money laundering agency's investigation, huge amounts were remitted to various companies based in Hong Kong, China and Dubai.
Sleuths of the Enforcement Directorate (ED) and the Income Tax (IT) Department conducted a search-survey operation at more than 20 places in Rajasthan on Friday.
While the IT teams raided 22 premises in various towns, including Jaipur Dausa and Behror, the ED conducted searches in several cities, including, Jaipur, Ajmer and Udaipur.
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Official sources indicated that the action is pertaining to huge fund transfers to different countries by some businessmen, including a Jaipur-based jeweler who allegedly ran/managed a company in Hong Kong while staying here.
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This trader and his associates/colleagues are allegedly indulged in fictitious/hawala transactions of huge amounts through shell companies.
The case was earlier being probed by the Customs officials. However, after revelations of illegal import of gold and diamonds by the afore -mentioned trader the case was referred to the ED.
The ED sleuths were working on the case under the Prevention of Money Laundering Act (PMLA).
Besides Rajasthan, searches/raids were in progress at two places in Mumbai and one each in Surat and Noida.
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