VIJAYAWADA: The Directorate of Enforcement (ED) arrested four people, including the ex-managing director of Siemens Industry Software India Private Limited (SISW), on charges of alleged money laundering of crores of funds of the Andhra Pradesh government. The ED probe revealed the money trail of diversion of around Rs 70 crore, the investigation agency said.
The arrests were made based on a First Investigation Report (FIR) registered by the AP Crime Investigation Department (APCID) in the alleged AP State Skill Development Corporation (APSSDC) scam.The others who were arrested, include MD of Designtech Systems Pvt Ltd Vikas Vinayak Khanvelkar, ex-financial advisor and authorised signatory of Skillar Enterprises India Pvt Ltd Mukul Chandra Agrawal, and chartered accountant Suresh Goyal.
“The accused were arrested in a money laundering case for diversion and misutilisation of crores of funds of Andhra Pradesh government disbursed for implementation of Siemens projects in which the AP Government had aimed to provide advanced software and technical skills to the youth,’’ the release said.
The ED launched investigation under Prevention of Money Laundering Act on the basis of the CID case regarding swindling of government money to the extent of Rs 241 crore in the alleged APSSDC scam. The ED said that its investigation revealed that diversion and siphoning of government funds given to Designtech Systems Pvt Ltd through Skillar Enterprises India Pvt Ltd and thereafter through a web of shell companies.
Stating that further investigation is underway in the case, the ED said that all the four accused were produced before the special court for PMLA cases in Visakhapatnam, which has granted it the seven-day custody of the accused for further questioning.