ED arrested Chartered Accountant for money laundering of Rs. 1100 Crore

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Studycafe | Dec 4, 2021 | Views 232106

ED arrested Chartered Accountant for money laundering of Rs. 1100 Crore

ED arrested Chartered Accountant for money laundering of Rs. 1100 Crore

The Enforcement Directorate has arrested a Delhi-based chartered accountant on charges of laundering Rs 1100 crore to Hong Kong by making international outward remittances from certain Mumbai-based banks using forged airline bills and fabricated cloud CCTV storage rental bills.

During an investigation into two Chinese-owned enterprises, it was discovered that they had defrauded online consumers by using unlawful gaming, gambling, dating, and steaming apps.

The ED is investigating a number of Chinese-controlled organisations, including Linkyun Technology Private Limited and Dokypay Technology Private Limited, for defrauding tens of thousands of naive online customers through unlawful gambling, dating, and streaming apps.

Thousands of crores were also gathered through online payment gateways, and the money was allegedly laundered through a variety of methods, including hawala payments to hair merchants, cryptocurrency purchases, and illegal remittances to Singapore.

The promoters of these sham firms are absconding. Ravi Kumar is currently in the Enforcement Directorate’s custody till Dec 9, 2021

According to investigations, HAR Associates chartered accountant Ravi Kumar did not verify import bills and papers and issued 622 phoney form 15CB certificates. “He signed the balance sheets of shell firms blindly, allowing them to launder criminal funds to Hong Kong. Despite being a chartered accountant, he failed to carry out his legal obligations and aided the accused “In a statement released on Friday, the Enforcement Directorate stated. For each forged certificate, he charged Rs 1500.

ED has arrested Ravi Kumar, CA, M/s HAR Associates, New Delhi on 27.11.2021 in a case of money laundering of Rs. 1100 Crore by sending Foreign Outward Remittances to Hong Kong by using forged Air Way Bills and fabricated Cloud CCTV storage rental charges.

 

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