CHENNAI: A CBI Special Court on Wednesday sentenced Mani Anbazhagan, son of the late DMK minister Ko Si Mani, to seven years rigorous imprisonment and Rs 1 crore fine in connection with a money laundering case registered by Enforcement Directorate (ED) under Prevention of Money Laundering Act-2002. Mani Anbazhagan was sent to Puzhal Central Prison on Wednesday.
According to prosecution, the matter related to outward remittance of foreign exchange to the tune of Rs 78 crore by eight current account holders by submitting forged bills of entry to the Indian Bank branch at Thousand Lights.
All these accounts were opened after receiving applications from Anbazhagan. During investigation, ED found that Rs 78 crore worth foreign exchange was remitted by these eight shell entities upon production of forged bills without any physical imports.
All the businesses and residential premises of the eight companies, including the house of Mani Anbazhagan was searched by ED. The identity proof for ‘Know Your Customer’ (KYC) submitted to the bank was found to be fictitious. A total of Rs 97.5 crore was deposited in the bank through these companies after which foreign exchange remittance to the extent of US $11.27 million, the equivalent of Rs 75.5 crore, was fraudulently made on the basis of forged import documents without making actual imports.
Mani Anbazhagan was arrested by ED in 2017. The special CBI court judge R Vasanthi sentenced Mani Anbazhagan to undergo RI for seven years and imposed a fine of `one crore on him.