NEW DELHI: Enforcement Directorate on Sunday said it has arrested two persons, an executive director of Sahara Group chairman's core management team and a long-time associate of the group cum property broker , as part of a money-laundering probe against the Sahara Group and its linked entities.
The individuals taken into custody have been identified as Vailaparampil Abraham and Jitendra Prasad Verma , respectively.
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 allegedly siphoned off. Verma was "actively involved" in executing several of these property transactions and knowingly assisted in routing large "cash" proceeds generated from these sale transactions, thereby contributing to the concealment and dissipation of the " proceeds of crime ", the central agency said in a statement.
The individuals taken into custody have been identified as Vailaparampil Abraham and Jitendra Prasad Verma , respectively.
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 allegedly siphoned off. Verma was "actively involved" in executing several of these property transactions and knowingly assisted in routing large "cash" proceeds generated from these sale transactions, thereby contributing to the concealment and dissipation of the " proceeds of crime ", the central agency said in a statement.
You may also like
Sahara executive director, key associate held in laundering case
President Abbas urges Hamas to hand over weapons to Palestinian Authority
Tourists issued cruise warning as major EU destination introduces £17 charge
Flight attendants have an undercover way of deciding if passengers are too drunk
Brits urged to avoid doing 1 thing when on holiday in Dubai
