Dino Morea, DJ Aqeel, son-in-law of Ahmed Patel and others in Sterling Biotech financial institution fraud case

The Enforcement Directorate (ED) stepped issues up a notch on Friday when it connected properties of Dino Morea, Sanjay Khan, DJ Aqeel, and son-in-law of late Congress chief Ahmed Patel within the Sterling Biotech financial institution fraud case. The ED took to the official Twitter deal with to tell in regards to the newest growth within the case.“Enforcement Directorate has provisionally attached movable & immovable properties worth Rs. 8.79 Crore under PMLA in Sandesara Group case. With this attachment, the total attachment reached to Rs 14,521.80 Crore,” it tweeted.Of this, reportedly, the worth of attachment of belongings for Sanjay Khan is Rs 3 crore, and for Dino Morea, it’s Rs 1.4 crore. For Aqeel Abdulkhalil Bachooali — popularly often called DJ Aqeel — it’s Rs 1.98 crore, and for Irfan Ahmed Siddiqui, who’s late Congress chief Ahmed Patel’s son-in-law, it’s Rs 2.41 crore.Enforcement Directorate has provisionally connected movable & immovable properties price Rs. 8.79 Crore below PMLA in Sandesara Group case. With this attachment, the entire attachment reached to Rs 14,521.80 Crore. pic.twitter.com/8SEPTxCRZf— ED (@dir_ed) July 2, 2021The cash laundering case allegedly includes a sum of Rs 14,500 crore in bank-loan frauds. According to the ED, the quantity is even better than the fraud dedicated by fugitive businessman Nirav Modi, who was the chief beneficiary of the Rs 11,400 crore Punjab National Bank (PNB) rip-off.As reported beforehand by TFI, Nitin Sandesara, Chetan Kumar Sandesara, Hitesh Kumar Patel and Dipti Sandesara are prime accused within the case and have been declared fugitive financial offenders by a particular court docket. The ED has already connected the abroad belongings of the Sandesara’s which embrace 4 oil rigs in Nigeria, two ships registered in Panama, a Gulfstream luxurious plane registered within the USA, and a residential flat in London.Read More: More hassle for Ahmed Patel in Sterling Biotech case as ED attaches properties price Rs. 9,778 crore of the SandesarasThe genesisIn August 2017, ED had first filed a case of cash laundering below PMLA towards Sterling Biotech Company. Thereafter, the promoters of the group, Nitin and Chetan Sandesara fled the nation. Later, in October 2018, the company filed a cost sheet within the Sterling Biotech case in a particular PMLA court docket in New Delhi.Investigations by the ED revealed that the Sandesara brothers and others hatched a legal conspiracy to cheat banks by manipulating figures within the stability sheets of their flagship corporations to induce banks to sanction greater loans.The Gujarat-based agency has additionally been accused of giving huge quantities in bribes to IAS, IPS, and Income tax officers. They had shut associations with the late Ahmed Patel and, his son and son-in-law, Faisal Patel and Irfan Siddiqui. Witnesses have vouched for Ahmed’s involvement with the Sandesara’s. According to the witness, Ahmed Patel’s official residence, 23, Mother Teresa Crescent was termed as “the headquarters”.Lately, the ED has been working in an overdrive mode to get better the belongings of the corrupt businessmen who’ve fleeced the nation. Recently, the ED had recovered belongings price Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi connected which quantities to 80 p.c of the losses recovered.