Meat exporter Moin Qureshi, who is being investigated by the Enforcement Directorate for money laundering, allegedly used the non-resident bank accounts of his daughter to receive funds to the tune of ₹3.70 crore through shell companies.
The agency, in a chargesheet filed against Mr. Qureshi, has identified two HSBC Bank accounts of his daughter Pernia, via which the alleged online transactions were made. Money was also sent from the U.K. and the U.S., according to the ED.
Six entities
The Directorate has listed six private entities — Mishra Dyes and Pharma Chem, Anil Coal Concern, Regal Infotech, S.S. Steel Cast, Intellect Personnel Selection Net and Platanus Portfolio Management — as shell companies through which Pernia’s accounts received ₹3.70 crore. “The trail of these proceeds of crime shows that it was layered in various levels to show the money as legitimate/untainted transfers into the account of Pernia Qureshi,” said the agency. The ED said Pernia’s account details also showed huge receipts from her former father-in-law “after projecting the same received as a gift from London for setting up her business, but she could not provide any documents on this account. However, this amount was found utilised by Moin Qureshi in his business of M/s Abdul Majeed Qureshi by way of bank transfers.”
The agency has alleged that the entire proceeds of crime routed and layered through shell companies are proceeds of crime under the Prevention of Money Laundering Act, which was used for meeting “exorbitant expenses” of Mr. Qureshi and his family members abroad; expensive gifts for government servants; and payments of their hotel stays in various countries.
