VIJAYAWADA: The Special Investigation Team (SIT) probing the multi-crore liquor scam on Friday arrested a Mumbai-based businessman accused of creating and operating dozens of shell companies used to divert illegal funds.
According to an official release, SIT officials said prime accused Kesireddy Rajashekar Reddy, also known as Raj Kesireddy, and Muppidi Avinash Reddy (A-7) managed Adan Distilleries, Leela Distilleries and Spy Agro Industries Ltd and diverted Rs 77.55 crore to four Mumbai-based shell companies.
During the probe, the SIT identified about 35 shell companies and confirmed that A49 Anil Chokhara had created, managed and controlled all of them.
After physical verification, ROC filings and witness statements, investigators established that he had set up an extensive network of fake firms operated through bogus directors and fabricated documents to launder illegal funds.
The release said Chokhara, a native of Bijaynagar in Ajmer, Rajasthan, and currently residing in Sanpada, Navi Mumbai, is known for operating shell companies to launder money and earn commissions.
He was previously booked by the Enforcement Directorate in 2014 for large-scale hawala transactions and arrested earlier by the Bombay Economic Offences Wing. He is out on bail. SIT officials said, “Chokhara identifies financially weak individuals in local areas and gains their trust by offering monetary help. He then collects their identity documents and uses them to create shell companies and open bank accounts in their names and carry out money-laundering transactions - converting black money to white and vice versa.”
“Following the findings, the SIT sent two special teams to Mumbai, where the accused was arrested on Thursday. He was produced in the local court in Thane, and brought to Vijayawada under a transit warrant to be presented before the ACB Court in Vijayawada,” reads the official release.