The Enforcement Directorate has attached assets estimated at ₹8.47 crore in connection with the alleged conversion of ₹40 crore in demonetised notes using accounts of shell companies.
The agency has so far attached properties estimated at over ₹15 crore in the case.
The money-laundering case pertains to the seizure of ₹3.7 crore in demonetised ₹1,000 notes by the Delhi police last November. The assets of Nitin Gupta, Mohit Garg, Prateek Bansal and Lokesh Makin, accused in the case, have been attached.
Among those involved was Devendra Kumar Jha and Vineet Gupta and Shobhit Sinha, who were employed in the Kashmere Gate branch of Axis when the crime took place.
The directorate alleged that Mohit and Nitin, in conspiracy with Vineet and Shobhit, used the shell companies allegedly controlled by Rajeev Singh Kushwaha to exchange the trashed notes and receive a commission.
The demonetised notes allegedly belonged to Anirudh Aggarwal, Ravi Aggarwal, Lokesh, Kanav Gupta and others.
Gold conversion
“Mohit, Gupta and Rajeev used to collect the notes from various persons and deposit the currency into the accounts of shell companies, in connivance with the Axis Bank officials.
The amounts were further transferred to the accounts of different bullion traders for buying gold. Thus, they converted the notes into gold,” an official said.
The ED investigation revealed that ₹40 crore in demonetised notes was converted by the accused. “Mohit and Rajeev earned illegal commissions at 15% of the total amount deposited. Axis Bank officials got illegal commission at 2% of the amount,” the official said.
The agency has arrested Rajeev, and Vineet Gupta and Shobhit. They are in judicial custody.
