To get details of foreign remittances in the Rs 6,000 crore Bank of Baroda scam, the Enforcement Directorate (ED) has sent judicial requests to Hong Kong and Dubai seeking details of funds, accounts and operators who allegedly perpetrated the fraud.
Officials said the agency recently dispatched the Letters Rogatory (LRs) issued from a local court, as its probe found that alleged illegal remittances were sent to these two locations.
The agency, they said, is hopeful of getting leads in the case after receiving a reply from their counterparts. A total of seven people have been arrested by the ED. CBI and the I-T department are also investigating the case.
The agency, which registered a criminal case under PMLA, has termed this case to be an incident of trade-based money laundering, where accused traders evade custom duties and taxes to generate slush funds.
Some of those arrested in the case were said to be alleged middlemen for at least 15 fake firms, out of the total 59 which were involved in perpetrating the crime unearthed in October, 2015.
It had said some traders allegedly connived with each other in “forming” fake firms in Hong Kong by “over valuing” the export value and subsequently claiming duty drawbacks.