HYDERABAD: The Enforcement Directorate’s Hyderabad zonal unit has arrested a man, Kalyan Banerjee, for allegedly impersonating a consultant and attempting to interfere with a money laundering probe against Nowhera Shaik, who is accused of duping investors of over Rs 5,978 crore.
The ED is probing a case against Nowhera and others based on multiple FIRs registered by police in different states. Investigations revealed that the accused had collected investments from the public by promising returns exceeding 36% a year, but allegedly failed to return even the principal amount.
According to the ED, part of the proceeds of crime was used to purchase immovable properties in the names of Nowhera, her companies and her relatives. Properties worth about Rs 428 crore have been attached so far, and prosecution as well as supplementary prosecution complaints have been filed before the Special PMLA Court in Hyderabad.
With matters pending before the Supreme Court, the ED sought permission to auction confirmed attached properties to restore funds to victims. While the approval was granted, the ED said Nowhera repeatedly attempted to stall the auctions before the courts. Her petition against the auction was dismissed by the Telangana High Court, which also imposed a cost of Rs 5 crore, directing it to be deposited in the PMRF.
The ED alleged that after failing to stop the auction legally, Nowhera engaged Banerjee on a commission basis. He allegedly contacted ED officers, falsely claiming proximity to senior bureaucrats and politicians and tried to influence the auction process. When rebuffed, he allegedly issued threats to pressure officials.
Following intelligence inputs, the ED conducted searches under the PMLA at his Secunderabad premises on January 10. His mobile phones allegedly contained incriminating WhatsApp chats with Nowhera Shaik and her associates, indicating attempts to manipulate the investigation and judicial process and to illegally deal with attached properties.
In his statement, Banerjee reportedly admitted to impersonation and to acting at the behest of Nowhera Shaik and her associates. He was produced before the Special PMLA Court at Nampally on January 11 and remanded to judicial custody till January 23.