1 min readAhmedabadMar 14, 2015 03:04 AM IST
First published on: Mar 14, 2015 at 03:04 AM IST
The Gujarat High Court on Friday reserved its order on bail application moved by Mumbai-based trader Rakesh Kothari, a co-accused in the hawala racket which is said to have crossed Rs 10,000 crore mark. Till last year, the total amount to have remitted out of the country was Rs 5,000 crore. This is said to be one of the biggest cases of money laundering in the country.
Kothari is alleged to have worked closely with the racket’s mastermind Afroz Fatta and Madanlal Jain as a “delivery boy”. Kothari was arrested by Enforcement Directorate (ED), Ahmedabad, in September last year and since then he is languishing in jail.
Initially when he was arrested by the ED, it was alleged that he remitted more than Rs 1,000 crore through hawala channel abroad such as Dubai.
The amount was sent in cash through another Mumbai-based accused businessman Madanlal Jain, a co-accused, with the help of alleged mastermind of this case Fatta.
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