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ED attaches assets worth Rs 384 crore of Rajiv Saxena

ED attaches assets worth Rs 384 crore of Rajiv Saxena

ED attaches assets worth Rs 384 crore of Rajiv Saxena
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By CNBC-TV18 May 30, 2020 8:55 AM IST (Updated)

The Enforcement Directorate (ED) has issued provisional orders for attaching assets of $50.90 million or Rs 385.44 crore of Rajiv Saxena under the Prevention of Money Laundering Act (PMLA) in Agusta Westland Chopper scam and Moser Baer bank fraud case.

The Enforcement Directorate (ED) has issued provisional orders for attaching assets of $50.90 million or Rs 385.44 crore of Rajiv Saxena under the Prevention of Money Laundering Act (PMLA) in Agusta Westland Chopper scam and Moser Baer bank fraud case.

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The attached assets include villa in Palm Jumeirah, Dubai, of 20 million AED and balances in five Swiss bank accounts amounting to $45.55 million of Rajiv Saxena, according to an official statement.
Accused Rajiv Saxena was deported to India from the UAE on January 31, 2019, for his involvement in the case of Agusta Westland Chopper scam and was arrested under PMLA, it said.
Investigations under PMLA were initiated by the ED on the basis of separate FIRs registered by the CBI in Agusta Westland chopper scam and Moser Baer bank fraud case in Agusta West land case.
Investigation under PMLA revealed that accused Rajiv Saxena is a hawala operator and accommodation entry provider who runs the accommodation entry business in Dubai through numerous companies known as Matrix Group companies and has laundered proceeds of crime in these cases, the statement said.
Rajiv Saxena created structures for laundering proceeds of crime generated by accused of both cases either for the kickbacks in Agusta Westland case or defrauding banks by misutilising the loans given to Moser Baer India Ltd and its subsidiaries.
Rajiv Saxena manages the proceeds of crime and tainted funds of many high-profile and high net-worth individuals, ED added.
In the case of Agusta Westland Helicopter scam, Letter of Request to Swiss Confederation was sent to restrain his Swiss bank accounts and ensure that Rajiv Saxena did not shift/transfer/dispose-off the suspected proceeds of crime, by continuing the criminal seizure of the assets in his bank accounts maintained in the Switzerland.
Rajiv Saxena has admitted to laundering the proceeds of crime not only of Agusta Westland deal but also various other defence deals.
The proceeds of crime have also been transferred to the personal accounts of Rajiv Saxena and his wife Shivani Saxena, also an accused in Agusta Westland case.
In Moser Baer bank fraud case, proceeds of crime belonging to Deepak Puri amounting to $16.33 million have also been attached in the hands of Rajiv Saxena.
The accounts of Moser Baer India was classified as a non-performing asset in the year 2014.
Investigation in the case has revealed that the proceeds of crime generated by Deepak Puri out of bank fraud were received and kept by Rajiv Saxena till 2018 through accounts maintained for Deepak Puri and also equity has been transferred from an undisclosed entity based in Bahamas.
From the analysis of digital evidences and accounts of Puri family maintained by Rajiv Saxena, it revealed that the amount of $16.33 million is proceeds of crime in the hands of Rajiv Saxena belonging to Deepak Puri and is parked in the accounts of companies of Matrix Group, it further added.
According to the statement, proceeds of crime belonging to Ratul Puri and transferred to Rajiv Saxena from an undisclosed foreign entity have also been attached in the hands of Rajiv Saxena.
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