The Central Bureau of Investigation has recovered Rs 94.37 lakh in cash after conducting several raids at 18 places in Mumbai and Bhopal in three cases connected with illegal forex remittances during 2014-2016. Several incriminating documents and electronic gadgets were also recovered.
According to a statement from the probe agency, the agency registered three separate cases against the accused which included private persons, unknown officials of multi-state cooperative societies and unknown public servants.
It was alleged that during 2014-2016, a huge amount was remitted in foreign exchange (Forex) abroad from the accounts of nine entities through eight nationalised banks by submitting fake import documents such as bills of entry, bills of lading, among others, without any actual trade.
CBI, in the statement released on Friday night, said aspects of Trade-Based Money Laundering (TBML) were enquired bank-wise. It was further alleged that in the instances of TBML related to -- Bank of Maharashtra, Mumbai; Canara Bank (e-Syndicate Bank), Mumbai; and Bank of India, Mumbai, facts emerged from the acts of commission and omission on the part of accused that there was disclosure of cognizable offence committed by them. As much as Rs 105.27 crore, Rs 41.17 crore and Rs 8.69 crore were allegedly remitted from the accounts of private companies (all Mumbai-based), maintained with the said three banks without any actual trade, thereby causing loss of foreign exchange to the government, the probe agency said.
It was also alleged that the current accounts were opened in the names of firms or companies, with namesake persons as proprietors or directors. Huge cash was allegedly collected from various sources and layered into bank accounts of the said firms, the agency said. It was further alleged that the Bills of Entry were later forged to show higher USD value than the actual import value and were submitted to the bank. CBI said further investigations are being conducted in connection with these cases.
( With inputs from ANI )
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