The CBI has booked an alleged hawala operator Mohammed Farooq Mohammed Hanif Shaikh, unidentified officials of cooperative societies and others in the cases.
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The CBI has seized Rs 94 lakh cash during searches at 18 locations in connection with three ongoing cases related to illegal remittances worth over Rs 155 crore sent to Hong Kong camouflaged as payments for fake imports during 2014-16, officials said.
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The Central Bureau of Investigation is probing three cases related to foreign exchange remitted abroad by nine entities through eight nationalised banks by submitting fake import documents such as bills of entry and bills of lading etc., without any actual trade, an agency spokesperson said on Friday. The CBI has booked an alleged hawala operator Mohammed Farooq Mohammed Hanif Shaikh, unidentified officials of cooperative societies and others in the cases.
Searches were conducted at 18 places, including in Mumbai and Bhopal etc., which led to the recovery of approximately Rs 94.37 lakh cash, incriminating documents and electronic gadgets etc., the spokesperson said. The agency is looking into aspects of Trade-Based Money Laundering (TBML) bank-wise.
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"In the instances of TBML related to Bank of Maharashtra, Mumbai, Canara Bank (e-Syndicate Bank), Mumbai and Bank of India, Mumbai, facts emerged from the acts of commission and omission on the part of the accused that there was disclosure of cognisable offence committed by them," he said.
"Amounts of Rs 105.27 crore, Rs 41.17 crore and Rs 8.69 crore were allegedly remitted from the accounts of private companies (all based in Mumbai), maintained with the three banks without any actual trade, thereby causing loss of foreign exchange to the government of India," he added. According to CBI FIRs, current accounts were opened in the names of companies with namesake persons as proprietors or directors.
"Huge (amount of) cash was allegedly collected from various sources and layered into bank accounts of the said firms. It was further alleged that the Bills of Entry were later forged to show higher USD value than the actual import value and were submitted to the bank," the spokesperson said. The agency has booked the accused, including private persons, unknown officials of multi-state co-operative societies and unidentified public servants.
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