Transactions of $27.88 million were made between March 2010 and March 2017. The SAR noted: “Art is utilized as a money laundering vehicle and is a red flag which is commonly used to conceal cash.”
In two SARs, the bank said that Singapore-based LGO Pte, a company where Analjit Singh is a director, which had an account with the bank, carried out transactions with “unknown entities, located in high-risk jurisdictions.”
A money laundering probe against Fatta is also being monitored by the Supreme Court-appointed-Special Investigation Team (SIT) investigating black money stashed abroad.
The SARs highlighted that many of these Indian firms had nothing to do with the gold business. And one of them, records show, figures in the list of top bank-loan defaulters released by the RBI last year.
According to the indictment, bribes were concealed and transferred through Firtash controlled-Group DF Ltd to various entities using financial institutions in the US.
“The SIT will convene a meeting in Ahmedabad after giving the relevant agencies some time to examine the disclosures so the matter can be taken forward,” Justice Shah told The Indian Express
Records show details of several wire transfers totaling $14.46 million being received by the Adani firm from this Seychelles entity.
Between November 24, 2014 and January 28, 2015, JSPL sent $1.799 million to Mauritius-based Trans Global Minerals and Metals Corporation (TGMM) and also sent $1.3 million to Germany-based Oceanwide Services GmbH. During the same period, JSPL received $1.323 million from Dubai-based Power Plant EPC Ltd.
In 2013, KPH Dream Cricket, which runs Kings XI Punjab, went to court against team sponsor NVD Solar International Ltd for “cheating and duping” them of $3 million in sponsorship fee. The SAR, filed by San Francisco-based Wells Fargo Bank, offers a clue to what went wrong.
Khanani’s relationship with Dawood Ibrahim was documented by the US Office of Foreign Assets Control (OFAC) when it issued the sanctions notice against him after his arrest.
From steel major to IPL sponsor, diamond merchants to those under ED, CBI scanner, several Indian individuals and entities have been referred in secret reports by banks to US Treasury’s Financial Crimes Enforcement Network.
Responding to The Indian Express reports, Zhenhua Data late Tuesday night said it was privately owned, its partners did not have any background in the Chinese military or the Chinese government, and its operation was “not illegal or unreasonable”.
Among bureaucrats working under the PM are Amarjeet Sinha, appointed adviser in the PMO this year; Sumita Misra, Joint Secretary, PM’s Economic Council; and Ashish Kumar, Private Secretary to Jitendra Singh, Minister of State in PMO.
Among the high-profile entries being tracked are income-tax evasion cases against 19 companies founded by friends or relatives of former Satyam Group chairman Ramalinga Raju; the Vyapam scam involving Madhya Pradesh Professional Examination Board.
The list includes 30 judges including the current Chief Justice of India, another judge in Supreme Court, three serving judges of the higher judiciary, and four retired judges of the Supreme Court who are currently heading key posts in various capacities.
Sources said that while many companies collect personal data of similar nature by scraping open source platforms, given that this involves a Chinese firm which works with the military and security agencies, the government is concerned about the end use and the end user.
Significantly, the database includes as many as 30 prominent leaders and bureaucrats from the Kashmir Valley and Ladakh, the arena of the current India-China standoff at the Line of Actual Control (LAC).
Unsurprisingly, the top payment apps are part of the database. So are the supply chain portfolio and delivery apps. Also under watch are the tech startups in the urban transportation segment.
China is Watching: From Ministers to Mayors, sarpanches, and legislators to Members of Parliament, the database includes at least 1,350 politicians and lawmakers across parties.
China is watching: Among the top sleuths on the list are former RAW chief VikramSood; former IB additional director Gurbachan Singh and former deputy director general of Central Economic Intelligence Bureau Kailash Sethi.
China is Watching: Over 10,000 Indians, entities from politics to business, judiciary to media, even crime-accused, tracked by big-data firm linked to Chinese govt.
On June 8, the Enforcement Directorate (ED) searched the office of Cox & Kings, the residences of its promoter Ajay Ajit Peter Kerkar and other senior executives under the Prevention of Money Laundering Act in connection with a Rs 3,642 crore fraud at Yes Bank Ltd.
Funded by the developer, the WII study concluded that the project would not affect tigers since none was camera-trapped in the project area during the four-month fieldwork.
Thampi, according to ED, is an associate of Vadra and helped him invest in real estate assets in London — he runs Skylight FZE in Dubai which shares its name with a company owned by Vadra in India.
While Nirav Modi and his Group are recognised as diamond traders, a large volume (61.44%) of their imported goods — for which the Letters of Undertaking were issued — comprised pearls