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Enforcement Directorate (ED) has seized investments in securities worth ₹30.60 crore of Vikram Swarup and Gaurav Swarup whose names had figured in Pandora Paper Leaks that exposed secret offshore accounts of top global leaders and billionaires in 2021.
According to the ED, the Pandora Paper Leaks, by a global consortium of independent journalists, stated that Vikram Swarup and Gaurav Swarup, both brothers, were beneficial owners in Epsilon Enterprises Ltd., incorporated in British Virgin Island.
Also Read: Pandora Papers: Experts call for a systematic plan
The ED officially stated on Saturday that its probe pointed out that the Swarup brothers held bank accounts of Epsilon Enterprises Ltd. in Standard Chartered Bank, Jersey, and the Bank J. Safra Sarasin, Switzerland. The investigation conducted under FEMA allegedly revealed that the Swarup brothers were holding assets in the form of “foreign exchange” in their accounts of banks in Jersey and Switzerland in the name of Epsilon Enterprises Ltd. which in contravened Section 4 of FEMA. It bars a person residing in India from acquiring, holding or transferring foreign exchange, foreign security or any immovable property situated outside India.
ED searches in ex-MP Atiq Ahmed case
In another case, the ED has seized cash of ₹17.80 lakh, property papers, financial documents, bank statements, laptops and other electronic devises after searching ten premises on Wednesday in Prayagraj, Lucknow and Delhi which belonged to chartered accountants and builders associated with former parliamentarian Atiq Ahmad who was recently shot dead while he was in UP police custody.
Also Read: ED arrests suspended Judge’s nephew in a money laundering case
The agency initiated probe against Atiq Ahmed and his aides under the provisions of PMLA on the basis of an FIR lodged by the CBI on the direction of Supreme Court on the allegation of mafia’s involvement in kidnapping, extortion, and assault.
Around 100 FIRs of crimes including murder, extortion, and land grabbing were lodged against him in various police stations of UP. During the investigations, it was revealed that by indulging in criminal activities since 1989 and by usurping government and other people’s properties, Atiq Ahmad had amassed huge wealth.
This is the third search in the case, with previous were conducted on April 12 and April 13, this year at the premises of various close associates of Atiq Ahmed which had resulted in recovery and seizure of cash ₹84.68 lakhs, gold bar worth ₹60 lakhs, gold and diamond jewellery worth ₹2.85 crore, digital devices and various physical documents, said the ED.
Also Read: ‘Siphoned off ₹9,805-cr’. ED arrests Deccan Chronicle’s T Venkattram Reddy, PK Iyer for bank fraud
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