https://www.ap7am.com/en/104736/two-people-including-sahara-groups-director-arrested-in-money-laundering-case

The Enforcement Directorate on Sunday said that it has arrested two persons in probe against the Sahara Group over money laundering case, which included Anil Vailaparampil Abraham, Executive Director of Sahara Group's Chairman Core Management (CCM) Office, and Jitendra Prasad Verma, a long-time associate and property broker of the conglomerate.

The arrests were made by ED’s Kolkata zonal branch in connection with the money laundering probe against the Sahara group and its linked entities.

Both the accused are currently in the ED’s remand. They were produced before the court on Saturday, following which the central agency was given their custody till Monday.

In an official statement, the ED said, “Anil V Abraham played a key role in coordinating and facilitating the sale of Sahara Group properties, many of which involved substantial unaccounted cash components that were siphoned off while J. P. Verma was involved in executing these property transactions and assisted in routing large cash proceeds generated from these sale transactions,” and added that the duo tried to hide the proceeds of crime.

The investigating agency also claims to have found various incriminating evidence during its search operations, conducted under the PMLA and said that it was being deliberately disposed of to evade accountability.

“It was found from the various digital evidence that these 2 persons, viz., Anil V Abraham and JP Verma, had played a key role in the disposal of such properties and assisting the promoters of the Sahara group in siphoning off the funds. The promoters were found to be involved in such malpractices while remaining outside India,” it further said.

The ED investigation into alleged money laundering began on the basis of three FIRs registered under Sections 420 and 120B of the IPC, 1860, against M/s Humara India Credit Cooperative Society Ltd. (HICCSL) and others by the Police in Odisha, Bihar, and Rajasthan.

It further informed that over 500 FIRs have been registered against various Sahara Group entities, with more than 300 involving scheduled offences under the PMLA, alleging large-scale cheating of depositors through forced redeposits and denial of maturity payments.

The ED claimed that the Sahara Group was operating a Ponzi scheme through entities like HICCSL, SCCSL, SUMCS, SMCSL, SICCL, SIRECL, SHICL, and lured depositors and agents with promises of high returns and commissions.

During investigations, statements of various persons, including depositors, agents, employees of the Sahara Group and other related persons, were also recorded under Section 50 of PMLA.

Also, searches were conducted under section 17 of PMLA wherein cash of Rs. 2.98 Crore was seized.