Nation Crime 31 Aug 2016 Mumbai: Money launde ...

Mumbai: Money laundering scam unearthed

DECCAN CHRONICLE.
Published Aug 31, 2016, 4:22 am IST
Updated Aug 31, 2016, 6:46 am IST
The investigation was expanded to include other dubious transactions conducted by another suspected shell firm.
Directorate of Revenue Intelligence (DRI) unearthed a Rs 2,200 crore money-laundering scam perpetrated by a clutch of shell firms dealing in consumer goods, including electronics. (Representational image)
 Directorate of Revenue Intelligence (DRI) unearthed a Rs 2,200 crore money-laundering scam perpetrated by a clutch of shell firms dealing in consumer goods, including electronics. (Representational image)

Mumbai: As reported by this newspaper on Sunday, what started as a probe into Rs168 crore worth of remittances sent to a Singapore bank account by an import-export firm allegedly owned by a Kasara-based railway sweeper led to the Directorate of Revenue Intelligence (DRI) unearthing a Rs 2,200 crore money-laundering scam perpetrated by a clutch of shell firms dealing in consumer goods, including electronics.

“The profile of the railway sweeper as the man who ran a firm sending remittances worth Rs 168 crore to a Singapore bank account just didn’t add up,” said a source.

 

The investigation was expanded to include other dubious transactions conducted by another suspected shell firm in the name of Pidilite Traders, Dombivali. And Rs 680 crore was found to have been remitted by two suspect firms bearing the address, Abdul Rehman Street, south Mumbai, and the same initial, Stelkon.

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