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ED grills Congress leader Ahmed Patel’s son-in-law in Sterling Biotech bank fraud case

Enforcement Directorate. File

Enforcement Directorate. File   | Photo Credit: The Hindu

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The ED on Tuesday recorded the statement of Irfan Siddiqui, son-in-law of senior Congress leader Ahmed Patel, in connection with the multi-crore bank fraud and money-laundering probe against Gujarat-based pharmaceutical firm Sterling Biotech, officials said.

Mr. Siddiqui’s statement was recorded under the Prevention of Money Laundering Act (PMLA) after he was grilled at an Enforcement Directorate (ED) office here on charges of links with the Sandesara brothers, the owners and promoters of the Vadodara-based company, they added. It is expected that his questioning will continue on Wednesday as well.

The alleged ₹8,100 crore bank loan fraud is said to have been perpetrated by the firm and its main promoters — Nitin Sandesara, Chetan Sandesara and Deepti Sandesara — all of whom are absconding.

The Sandesaras are also facing probes for their alleged nexus with some high-profile politicians by the ED as also by the Central Bureau of Investigation (CBI) and the Income Tax Department under criminal sections dealing with corruption and tax evasion respectively.

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Printable version | Dec 12, 2019 9:42:34 PM | https://www.thehindu.com/news/national/ed-grills-congress-leader-ahmed-patels-son-in-law-in-sterling-biotech-bank-fraud-case/article28761807.ece

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