Money Laundering Case Against Moin Qureshi for Alleged Hawala Dealings

The agency slapped money laundering charges under Prevention of Money Laundering Act (PMLA) after taking cognisance of the Income Tax department’s charge sheet

Published: 30th September 2015 09:22 PM  |   Last Updated: 30th September 2015 09:22 PM   |  A+A-

NEW DELHI: The Enforcement Directorate on Wednesday registered a money laundering case against controversial Delhi-based meat exporter Moin Qureshi, who is under the scanner of probe agencies for alleged tax evasion and allegedly into hawala dealings.

The agency slapped money laundering charges under Prevention of Money Laundering Act (PMLA) after taking cognisance of the Income Tax department’s charge sheet against Qureshi in alleged tax evasion case. Income Tax department had filed a charge sheet in a Delhi court against Qureshi.

“The new rules notified by the agency state that in any case if the prosecuting agency (tax department here) has filed a complaint in a competent court and the court has admitted it, such a case can be taken up for probe under PMLA,” they said.

He will be summoned again for questioning and his assets may be attached as part of the fresh proceedings under money laundering laws.

With new case, Qureshi will now be carried out under criminal laws.  The agency and Income Tax department were conducting probe under the Foreign Exchange Management Act (FEMA) and Income Tax Act which are civil in nature.

The ED has taken over this case under FEMA early this year after the I-T department shared documents indicating hawala and alleged contravention of forex laws by the businessman and his business entities based here.

The Income Tax department, during its probe, had found Qureshi had 11 bank lockers which were in the names of his employees and associates but the articles belonged to the businessman. The lockers were operated by the employees of AMQ Group of Qureshi claiming that over Rs 11.26 crore in cash and jewellery worth over Rs 8.35 crore were found in these lockers.

In February this year, the ED sleuths had carried out searches on the premises of Qureshi in connection with its hawala and foreign exchange violation case against him. ED sleuths had searched at least three premises of Qureshi in the national capital “looking for documents and evidence” against the businessman.

Income Tax officials had pegged an alleged evasion of Rs 200 crore by Qureshi and his business firms.

Last year, the Income Tax department has issued notices to former CBI Director A P Singh and his wife in connection with the probe into a case against Qureshi.

The investigation wing of the department has asked Singh, who is at present a member of Union Public Service Commission, and his wife to furnish details pertaining to their personal finances and transactions.

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