ED arrests four in 'Siemens Project' money laundering case

New Delhi, March 14 The Enforcement Directorate (ED) on Tuesday said that they have arrested four persons in a case related to "diversion and misutilisation of funds worth crores of rupees" of the Andhra Pradesh government disbursed for implementation of the 'Siemens Project'.

Through the 'Siemens Project', the Andhra Pradesh government aimed to provide advanced software and technical skills to the youth.

The arrested individuals have been identified as Soumyadri Shekhar Bose a.k.a. Suman Bose, ex-MD of Siemens Industry Software India Pvt Ltd (SISW), Vikas Vinayak Khanvelkar (MD of Designtech Systems Pvt Ltd), Mukul Chandra Agrawal, ex-Financial Advisor, and authorised signatory of Skillar Enterprises India Pvt Ltd, and Suresh Goyal, a Chartered Accountant

The official said that all the accused were presented at a Special PMLA Court in Visakhapatnam which remanded them to seven days' custodial remand.

The official said that the PMLA investigation was initiated on the basis of an FIR registered by Andhra Pradesh CID regarding swindling of government money to the extent of Rs 241 crore in a dubious manner.

The ED investigation revealed diversion and siphoning off government funds given to Designtech Systems Pvt Ltd through Skillar Enterprises India Pvt Ltd, and thereafter, through a web of shell companies under the guise of supply of software, hardware, services without any genuine supplies.

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