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Journalism of Courage
The Enforcement Directorate (ED)’s probe into money laundering charges in the AgustaWestland VVIP chopper deal has revealed the precise manner in which slush funds were laundered by manipulating the charges-per-man hour for purported IT services rendered by software company IDS Infotech Chandigarh and later Aeromatrix Chandigarh to AgustaWestland.
“Though IDS Infotech Chandigarh would charge 14 Euros per man hour for works raised, IDS Tunisia would raise bills for 34 Euros per man hour. The difference of 20 Euros per man hour was paid in the form of bribes to the actual beneficiaries. Not just this, IDS Tunisia would raise bills for fixed man hours, which was around 50 per cent higher than the actual man hours of IDS Chandigarh,” said an ED source.
According to a charge-sheet filed by the ED, 24.37 million Euros were transferred from AgustaWestland to IDS Tunisia. However, of this, only 1.88 million Euros were transferred to IDS Infotech Chandigarh and 3.88 million Euros to Aeromatrix for purported engineering contracts.
ED sources said IDS Infotech Chandigarh was persuaded by alleged middlemen Carlo Gerosa and Guido Haschke to set up IDS Tunisia, citing tax benefits and proximity to the European market.
“Three months into operations, the directors of IDS Tunisia were prevailed upon by middlemen Carlo Gerosa and Guido Haschke to sell off their stake to Euromed, a firm based in Delaware, USA, which has close links with Gerosa and Haschke,” an ED source said.
The ED has found that apart from transfers made to IDS infotech Chandigarh and Aeromatrix, funds received by IDS Tunisa from AgustaWestland were routed to the actual beneficiaries through companies such as Mauritius-based Interstellar Technologies Ltd — which was partly owned by accused lawyer Gautam Khaitan — and US-based company Euromed.
ED sources also revealed that funds transferred from IDS Tunisia were received by Gautam Khaitan and his wife Ritu.
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