The Enforcement Directorate (ED) on Friday said it has filed a prosecution complaint (chargesheet) before PMLA Special Court, Visakhapatnam, against Deepak Agarwal, Ayush Goyal and Pramod Agarwal under money laundering charges involving trade-based money laundering to the tune of Rs 1,500 crore fraudulently to companies outside India.
The ED had initiated investigation on the basis of an FIR registered by Andhra Pradesh Police on the complaint of the Income Tax Department against Vaddi Mahesh and others.
Money laundering investigation revealed that Vaddi Mahesh had floated several firms and shell companies and opened several bank accounts in the name of those firms and shell companies.
Mahesh had remitted huge funds to the tune of Rs 1500 crore to various companies in Singapore, Hong Kong and China in the guise of outward remittances for import of non-existent “customised software” by submitting fake and fabricated documents to the banks, the ED said. .
The agency had filed its first prosecution complaint against Mahesh, Bhimendra Kumar Goyal and others on October 29, 2020 before PMLA Special Court, Visakhapatnam in this case.
Investigation further revealed that Deepak Agarwal had acted as the Authorised Signatory for the bank account of United Hill China Limited, Hong Kong, which received proceeds of crime worth Rs 300 crore from the shell companies of Mahesh.
The ED had earlier arrested the kindpin of this international scam, Bhimender Kumar Goyal on September 3, 2020.