ED raids 4 properties in MP, Goa, linked to businessman named in Panama Paper Leaks
India Today
ED conducted searches on four properties linked to businessman Sanjay Vijay Shinde in MP and Goa whose name had figured in the Panama Paper Leaks.
The Enforcement Directorate has conducted searches on four premises linked to businessman Sanjay Vijay Shinde in Madhya Pradesh’s Bhopal and Goa in connection with a money laundering case against him after his name figured in Panama Paper Leaks.
Sanjay Vijay Shinde is an iron core commission agent and also involved in the import-export business.
"Sanjay Vijay Shinde had beneficial interests in a British Virgin Islands based offshore entity and in whose Singapore bank account more than Rs 31 crore was deposited by various offshore entities,” the probe agency said..
The Income Tax department had earlier filed a prosecution complaint (chargesheet) against Sanjay Vijay Shinde under provisions of Black Money (Undisclosed Foreign Income and Assets) and the Imposition of Tax Act. Later, an investigation under the Prevention of Money Laundering Act was initiated by the ED.
A total of four premises in Bhopal and Goa of Shinde, including that of his former employer VS Dempo Holdings Pvt Ltd in Goa and that of RPM Sonic Adventures and Caravan Resorts at Bhopal, were raided early this week, the Enforcement Directorate (ED) said in a statement.
The ED has also seized cash to the tune of Rs 88.30 lakh along with various incriminating documents were recovered from the premises.
Dubbed ‘Panama Papers’, an investigation of a stockpile of records from Panamanian legal firm Mossack Fonseca by the Washington-based International Consortium of Investigative Journalists (ICIJ) in 2016 named several world leaders and celebrities who allegedly stashed away money abroad in offshore companies. Some of them are stated to be holding valid overseas accounts.
