New Delhi, Feb 25 (IANS) The Enforcement Directorate on Thursday arrested two more accused allegedly involved in illegal forex transfer involving the Bank of Baroda.
Brothers Varun Bhatia and Gaurav Bhatia were presented before special Judge Sunil Kumar Aggarwal who sent them to ED’s custody till March 1.
ED’s public prosecutor N.K. Matta sought custody saying that the beneficiary of forex transactions who dealt with proceeds of crime, pertaining to the transfer of Rs.6,172 crore in foreign exchange through a bank branch through 59 bank accounts to companies in Hong Kong and Dubai for fake import and export businesses, has to be ascertained.
He also said that the agency has to ascertain the role of arrested people, involvement of other associates in money laundering and to confront with the voluminous records received from the banks.
Both the arrested accused were owners of three entities allegedly involved in money laundering, ED has alleged.
It added that both were summoned to join investigation but Gaurav Bhatia after initially avoiding, joined the investigation but Varun Bhatia remained on run.
ED recorded the statement of Gaurav Bhatia on October 27, 2015 wherein he stated that entire work of the accused entities were being looked by his elder brother Varun Bhatia.
In October last year, ED arrested four accused – Kamal Kalra, Chandan Bhatia, Gurucharan Singh and Sanjay Aggarwal – in the case.
Kalra is out on bail while the other three are in judicial custody.