MONEY LAUNDERING

  • Swiss ups black money vigil as India threatens criminal action April 5, 2015

    Berne/New Delhi: With India and some other nations threatening criminal proceedings over suspected black money in Swiss banks, the European nation has stepped up its supervisory and enforcement efforts to keep away the illicit funds from its banking system. This comes at a time when a number of Swiss institutions have...
  • Nagaland Chief Minister TR Zeliang accused of money laundering March 9, 2015

    Nagaland Chief Minister TR Zeliang has been accused of stashing 78 crores black money in foreign accounts. Zeliang who faced a floor test in the first week of February, faces rebellion from within his party which has accused him of money laundering. ...
  • 2G money laundering case: A Raja, others to answer 400 questions March 4, 2015

    New Delhi: A special court on Wednesday supplied a draft copy of the questionnaire of 400 questions to former telecom minister A Raja, DMK MP Kanimozhi and others in a money laundering case related to 2G spectrum allocation. Central Bureau of Investigation (CBI) Special Judge OP Saini supplied the draft questionnaire...
  • Swiss prosecutor searches HSBC premises, opens criminal inquiry February 18, 2015

    Zurich: Geneva's public prosecutor searched the premises of HSBC Holdings PLC (HSBA.L) in Geneva on Wednesday and said it had opened a criminal inquiry into allegations of aggravated money laundering. "A search is currently underway in the premises of the bank, led by Attorney General Olivier Jornot and the prosecutor Yves...
  • Delhi polls: I dare the Centre to arrest me if AAP took hawala money, says Kejriwal February 4, 2015

    PM Modi on Tuesday trained his guns on Arvind Kejriwal, alleging that he had been exposed in the money laundering scandal. Meanhile, even as the government has hinted at an independent probe, Kejriwal has dared the central government to arrest him. ...
  • Corporate fraud in India rose 45 per cent last 2 years: Study January 14, 2015

    New Delhi: Corporate frauds rose by over 45 per cent in India in the last two years and the lurking risk has been dissuading global companies from investing in India, said a study. Corporate frauds arose out of corruption, money laundering, tax evasion, window dressing, financial reporting fraud and bribery...
  • Will cooperate with ED in drug racket case: Punjab Minister Bikram Singh Majithia December 21, 2014

    Chandigarh: Punjab Revenue Minister Bikram Singh Majithia, who has been served summons by the Enforcement Directorate (ED), today assured full cooperation with the agency probing money laundering complaints in the Rs 6,000-crore drug racket case. "...I was not at home when the summons were delivered at my residence and to cooperate...
  • Black money trail: ED summons mining baron Radha Timblo in money laundering case on November 18 November 6, 2014

    Panaji: The Enforcement Directorate on Thursday summoned mining baron Radha Timblo named in the black money case. The former director of Timblo Private Limited has been asked to be present on November 18. A senior ED official told PTI that she would have to remain present at the Central agency's...
  • 2G money laundering: Court takes cognisance of ED chargesheet, charges framed against Raja, Kanimozhi October 31, 2014

    New Delhi: Major trouble is in store for former Telecom Minister A Raja, DMK leader Kanimozhi as a special court on Friday framed charges against them along with 17 others in connection with the 2G scam-related money laundering case. DMK chief M Karunanidhi's wife Dayalu Ammal is also amongst the accused...
  • Black money: Violation of confidentiality norm in treaties will mean trouble for India, says Harish Salve October 30, 2014

    Former Solicitor General Harish Salve says any violation of the confidentiality norm in treaties will mean further damage for India. Speaking to Network18, he said, "As of now, this order does not by itself infringe any bilateral investment treaty obligation. The complication is that, there is still a possibility that...
  • Modi government submits a list of 627 black money account holders to SC in a sealed envelope October 29, 2014

    New Delhi: The Narendra Modi government has submitted a list of names of 627 black money account holders to the Supreme Court. The court refused to open the sealed envelope saying that only the SIT Chairman and Vice Chairman can open the sealed envelope containing the names of account holders....
  • It's the beginning of the end for those who have stashed illegal money abroad: BJP October 27, 2014

    The Narendra Modi government on Monday revealed names of three black money account holders in the Supreme Court. However, the list includes no politicians. But the BJP says that more names will be revealed as per the due procedure. ...
  • Dabur rejects black money charge against Pradip Burman, Lodhiya 'shocked' to see his name October 27, 2014

    New Delhi: As the Narendra Modi government revealed names of three black money account holders on Monday, two of them defended themselves. While Dabur denied any wrongdoing by its former executive director Pradip Burman, promoter of the Rajkot-based Shreeji Trading Company Pankaj Chimanlal Lodhiya said he was shocked to see...
  • AgustaWestland case: ED questions former IAF Chief SP Tyagi's cousin Sanjeev October 14, 2014

    New Delhi: The Enforcement Directorate on Tuesday questioned Sanjeev Tyagi, cousin of former IAF chief SP Tyagi, in connection with its money laundering probe into the Rs 3,600 crore AgustaWestland VVIP helicopter deal. Officials said Sanjeev was summoned under the provisions of the Prevention of Money Laundering Act (PMLA). "Yes, I have...
  • ED arrests Gautam Khaitan in money laundering probe in VVIP choppers deal case September 23, 2014

    New Delhi: Enforcement Directorate on Tuesday carried out its first arrest in the money laundering probe in the Rs 3,600-crore AgustaWestland chopper deal, taking into custody Gautam Khaitan, an ex-board member of an accused company. The agency, which is trying to track the alleged kickbacks of Rs 360 crore from the...
  • Money laundering: RBI takes action against erring UCBs September 14, 2014

    New Delhi: Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports emerged...
  • 2G scam: All accused including Kanimozhi, A Raja, Shahid Balwa get bail August 20, 2014

    New Delhi: A special Central Bureau of Investigation court on Wednesday granted bail to DMK leader Kanimozhi, former Telecom Minister A Rajai n the 2G scamrelated money laundering case. Swan promoter Shahid Balwa, Asif Balwa were also granted bail in the case filed by the Enforcement Directorate. Kanimozhi had sought bail...
  • SIT report on black money pushes for overhaul of tax treaties with different countries: sources August 20, 2014

    New Delhi: The Special Investigation Team report on black money is likely to be submitted to the Supreme Court on Wednesday. Top sources have told CNNIBN that the report has pushed for a major overhaul of tax treaties with different countries. According to sources, the report says that countries like Mauritius...
  • Graft case: ED attaches assets worth over Rs 800 crore of Jagan, others August 19, 2014

    New Delhi: A special antimoney laundering court on Tuesday attached properties worth Rs 863 crore of YSR Congress leader Jagan Mohan Reddy and his associates in connection with its probe into alleged corruption and money laundering in an infrastructure project in Andhra Pradesh. The court's orders came on a notice of...
  • Prima facie money laundering case made out against Virbhadra: Centre to Delhi HC August 6, 2014

    New Delhi: The Centre on Wednesday told the Delhi High Court that a prima facie case of money laundering appeared to be made out against Himachal Pradesh Chief Minister Virbhadra Singh. A bench headed by Chief Justice G Rohini also asked the Income Tax Department to file before it tax assessment...
  • Pak MQM chief Altaf Hussain arrested in London June 3, 2014

    London/Karachi: Altaf Hussain, Pakistan's powerful MQM leader, was on Tuesday arrested in London on charges of money laundering. Scotland Yard confirmed that a 60yearold man had been arrested from a NorthWest London property on charges of moneylaundering, but declined to disclose the exact identity of the individual for "legal reasons". Officers...
  • ED files fresh FIR against hawala operator Afroz Phatta April 30, 2014

    New Delhi: The Enforcement Directorate has filed a fresh FIR against Afroz Phatta, who was arrested last month in Surat in connection with an alleged hawala racket to the tune of Rs 700 crore, on money laundering charges. Sources said Phatta, who was summoned by the ED, appeared before officials...
  • Satyam case: Ramalinga Raju appears in court on money-laundering charges April 4, 2014

    Satyam Computers founder Ramalinga Raju and another accused appeared before a court in Hyderabad in connection with a prosecution complaint filed by Enforcement Directorate against them for offences under the Prevention of Money Laundering Act (PMLA). The Enforcement Directorate in October last year had file the complaint against Raju and 212...
  • HC rejects Anil Bastawade's bail plea in multicrore money laundering case February 11, 2014

    Jharkhand High Court on Monday rejected the bail petition of Anil Bastawade, an alleged aide of former Chief Minister Madhu Koda, who is an accused in a multicrore money laundering scam. The Bench of Justice HC Mishra dismissed the petition, saying granting bail could influence the investigation of the case. Bastawade...
  • Spain's Princess Cristina testifies in historic fraud probe February 10, 2014

    In a historic judicial hearing that could further impact the deteriorated image of Spain's monarchy, Princess Cristina testified on Saturday in a fraud and money laundering case in which she and her husband could eventually be charged. Judge Jose Castro will rule on whether Cristina, the first Spanish royal to be...
  • Madhu Koda case: Jharkhand exministers' assets frozen January 21, 2014

    A special PMLA court has frozen properties worth over Rs 5.8 crore belonging to Kamlesh Kumar Singh, former Jharkhand minister in the Madhu Koda cabinet, declaring them as proceeds of money laundering crime. The order has been issued while confirming a provisional attachment order of the Enforcement Directorate (ED) which seized...
  • Spanish court summons Princess Cristina for tax fraud January 7, 2014

    A Spanish court has subpoenaed Princess Cristina, the daughter of Spain's King Juan Carlos, as a suspect in an investigation of alleged tax fraud and money laundering, the latest blow to the royal family's reputation. Palma de Mallorca court judge Jose Castro on Tuesday ordered the 48yearold princess to appear on...
  • Jagan case: Court freezes Rs 34 crore FDs of media firm November 20, 2013

    New Delhi: A special PMLA court in New Delhi has issued orders for attachment of fixed deposits worth over Rs 34 crore of a media firm owned by YSR Congress leader Jagan Mohan Reddy, identifying them as "proceeds of crime of money laundering". The order of the Adjudicating Authority of the...
  • RBI penalises 22 banks for violating KYC norms July 15, 2013

    New Delhi: The Reserve Bank of India on Monday penalised 22 banks for violating Know Your Customer norms and imposed penalties ranging from Rs 50 lakh to Rs 3 crore. The RBI has absolved them of money laundering charge saying there is no prima facie evidence against them. The RBI has...
  • SEBI to be given powers to get call data records of entities June 30, 2013

    New Delhi: Market regulator SEBI will soon be given powers to get telephone call data records (CDRs) of entities under its investigation in cases of insider trading, money laundering and other market manipulations. A formal order in this respect will be issued after the Union Cabinet gives its approval to...