The Enforcement Directorate (ED) on Wednesday said it has arrested Indian Revenue Service (IRS) officer and Additional Commissioner of Customs Sachin Balasaheb Sawant in a money laundering case.
Sawant is a 2008-batch officer and was arrested on Tuesday.
The ED had initiated investigation on the basis of an FIR registered under the Prevention of Corruption Act by the Anti-Corruption Branch, CBI, Mumbai.
It is alleged that during the check period Sawant has amassed assets disproportionate to his known and legal sources of income, the ED said.
During the Investigation conducted so far, it was revealed that cash deposits of around Rs 1.25 crore were made from unexplained sources in the personal bank accounts of family members of Sawant and in the bank account of a dummy company wherein his father and brother-in-law were directors.
“It has been found that immovable property was purchased in the name of said dummy company. The source for purchase of the said property was shown as personal loans and other bank loans whose repayments were also made in cash. Although, the flat is in the name of dummy company but Sachin Sawant was occupying the said flat as its real owner.,” it said.
To identify the proceeds of crime, Sawant has been arrested. Further, he was produced before the Designated Special PMLA Court, Mumbai. The Court has granted the custody of Sawant till July 5 to the ED.