ED attaches Rs 13.34 cr worth FDs of Rajya Sabha MP in money laundering case
Sep 02, 2021
New Delhi [India], September 2 : The Enforcement Directorate (ED) on Thursday informed that it has attached fixed deposit receipts worth Rs 13.34 crore of Rajya Sabha MP Amarendra Dhari Singh under Prevention of Money Laundering Act, 2002 linked to an alleged fertiliser scam.
The ED initiated the money-laundering investigation on the basis of FIR registered on May 17 by the CBI under the provisions of IPC, 1860 and PC Act, 1988, against U.S Awasthi, MD and others, for criminal conspiracy, cheating and criminal misconduct.
"FDR (fixed deposit receipts) valued at Rs 13.34 crore belonging to Amarendra Dhari Singh, Member of Parliament (Rajya Sabha) have been attached under the Prevention of Money Laundering on August 31 in ongoing investigations against U S Awasthi (IFFCO Managing Director and CEO) and others," the ED said in a statement.
"There had been siphoning of funds amounting to Rs 27.79 crore related to criminal activities."
"Such proceeds of crime were laundered by way of projecting the same as consultancy income, first in the hands of entities under the control of Dubai-based chartered accountant Rajiv Saxena and subsequently in the hands of entities controlled by India-based CA Alok Kumar Agarwal and thereafter in the form of cash to Amarendra Dhari Singh," the agency said.
Based on the investigation conducted so far, proceeds of crime have been quantified to the tune of Rs 27.79 crore, which had been used by Amarendra Dhari Singh on his own.
The ED also filed a charge sheet against six people, including the Rajya Sabha MP and Agarwal, and a local court took cognisance of this prosecution complaint and issued summons to all the accused last month.
Earlier, ED had attached movable assets (FDRs) valued at Rs 14.45 Crore on July 30, thus, bringing the total value of provisional attachment in this case to Rs 27.79 crore so far.
Further investigation is underway.
