New Delhi, July 17 The Enforcement Directorate (ED) on Saturday arrested a Dutch national from the Indira Gandhi International Airport here while he was trying to flee from the country by boarding a flight to Paris.
Shivlal Pabbi, originally from Phagwara in Punjab who had migrated to the Netherlands in 1981 and became a Dutch national in 1984, was held under the Prevention of Money Laundering Act (PMLA), 2002.
The ED had initiated a money laundering probe against Pabbi and others on the request of the Netherlands government.
The investigation by the ED revealed that Pabbi committed cheating and forgery in the Netherlands on the basis of fraudulent documents prepared in connivance with his Indian associates.
He ran an underground banking network without permit besides running a hawala business in the Netherlands under the garb of trading in readymade garments.
The proceeds of the crime generated by Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to his and his brother's accounts in Phagwara, the ED said.
"The proceeds of crime were invested in the development and construction of Mayfair Resorts and Cabbana Resort and Spa situated in Phagwara on the Jalandhar-Ludhiana Highway. Cabbana Resort and Spa, spread over several acres of land, is a renowned venue known mainly for hosting luxurious weddings and corporate events," the ED said.
The probe agency said that after the arrest, Pubbi was produced before a special PMLA court in Mohali which granted his custody to the ED till July 23.
"The court noted that in the considered opinion, the remand of the accused is necessary and justified for fair and complete investigation into the matter. Further investigation in the matter is underway," the ED said.
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