The Enforcement Directorate (ED) announced on Friday that it has attached the properties of four people in connection with the Sandesara Group bank fraud case. Two of them being late Congress politician Ahmed Patel’s son-in-law Irfan Ahmed Siddiqui and Bollywood actor Dino Morea.
According to an ED official, the financial investigation agency attached eight immovable properties, three vehicles, and several bank accounts/shares/mutual funds with a total value of Rs 8.79 crore belonging to four people in the Sandesara Group case on Friday under the provisions of the Prevention of Money Laundering Act (PMLA).
According to the official, the agency attached properties worth Rs 1.4 crore in Morea’s name. Additionally, properties worth Rs 2.41 crore in Siddiqui’s name.
In connection with Dino Morea bank fraud case, the ED had previously attached properties worth Rs 14,513 crore.
Apart from these two, the agency has attached properties worth Rs 3 crore in the name of Sanjay Khan and Rs 1.98 crore in the name of Aqeel Abdulkhalil Bachooali.
The ED opened a case of money laundering. Furthermore, it was based on an FIR filed by the CBI against many organisations for defrauding various public sector banks. According to the official, the Sandesaras routed Rs 3 crore, Rs 1.4 crore, Rs 12.54 crore, and Rs 3.51 crore. This is in proceeds of crime to Sanjay Khan, Dino Morea, Aqeel Bachooali, and Irfan Ahmed Siddiq during the investigation.
The Enforcement Directorate (ED) claims that absconding Sterling Biotech promoters Nitin and Chetan Sandesara had “diverted” proceeds of crime to the four people.
Moreover, a special court has proclaimed the promoter brothers Nitin Sandesara, Chetan Sandesara. Also, Chetan’s wife Dipti Sandesara, and Hitesh Patel to be fugitive economic criminals, according to the report.
The money-laundering case involves Sterling Biotech. Moreover, its main promoters and directors are accused of perpetrating a Rs 14,500-crore bank-loan fraud.