New Delhi, Mar 11: Enforcement Directorate(ED) has provisionally attached immovable properties of Augusta Westland VVIP chopper case accused Gautam Khaitan, under Prevention of Money Laundering Act, which include properties in New Delhi, Haryana and Uttarakhand.
The book value of these properties is Rs 8.46 crore, while the present market value of these properties is much higher. The central financial probe agency move comes after the registration of a case by Income Tax Department under the Black Money (Undisclosed Foreign Income and Assets) And Imposition of Tax Act, 2015, against accused Gautam Khaitan.
The probing agency investigation under the provision of PMLA established that the accused had held the beneficial interest, ownership in foreign assets, company and account and had failed to disclose the same in his return of income filed before the Income Tax Authorities.
"It was also revealed during investigation that he had been found laundering money in various personal and companies bank accounts in Singapore and Mauritius and that he willfully did not disclose the relevant information related to the foreign bank accounts and companies which are beneficially owned by him",the probe agency said.
The investigation under the PMLA has revealed that as per KYC documents furnished by the banks, the accused maintained six foreign bank accounts in his name, in the name of companies owned by him through 100 percent shareholding and in joint name with his father and wife in three banks namely Barclays Bank, Singapore Bank and UBS Bank.
On the analysis of these foreign bank accounts it was revealed that he received huge amounts in foreign currencies.
"Documents from foreign banks through Letter of Requests were received from Singapore and Mauritius revealed that, in order to receive huge amount of beneficial interests, Gautam Khaitan in furtherance of criminal conspiracy structured, laundered and layered the proceeds of crime (black money) by concealing and routing the same through his foreign bank accounts of different entities.
The accused Khaitan was arrested by ED on January 25 and remained in ED custody till February 8 ,later he is on judicial custody till date.
Investigations conducted so far have revealed that Gautam Khaitan is involved in laundering the proceeds of crime for clients across the globe under the guise of providing legal consultancy, ED said.
"For the same, he has been compensated and the said money has been siphoned off by the accused in his offshore bank accounts and Gautam Khaitan is a habitual offender and there are other pending cases of corruption and money laundering against him",the probe agency officials said.
Investigation in the said cases had revealed his beneficial interest in undisclosed foreign entities and foreign bank accounts and further probe is continued to identify the remaining Proceeds of Crime are under progress, the official added. UNI