New Delhi, June 28 The Enforcement Directorate (ED) said on Wednesday that Sachin Balasaheb Sawant, Additional Commissioner of Customs, IRS (Customs and Central Excise), who was arrested in connection with a case under the Prevention of Money Laundering Act (PMLA), has been remanded to ED custody by a special Mumbai court till July 5.
The ED initiated the PMLA investigation based on an FIR registered under the Prevention of Corruption Act by the CBI.
It was alleged that during the investigation, Sawant amassed assets disproportionate to his known and legal sources of income.
"During the ongoing PMLA investigation, it was revealed that cash deposits totalling around Rs 1.25 crore were made from unexplained sources into the personal bank accounts of Sawant's family members and into the bank account of a dummy company, where his father and brother-in-law were directors. It was discovered that immovable property was purchased in the name of the said dummy company with the source of funds claimed to be personal loans and other bank loans, the repayments of which were also made in cash," said the official.
Although the flat was registered under the name of the dummy company, it was found that Sawant was the actual owner and occupant of the said flat.
In order to trace the proceeds of the crime, Sawant was arrested by the ED on June 27 and subsequently produced before the Special PMLA Court in Mumbai, where the custody of Sawant was granted to the ED until July 5.
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