Chandigarh (Gurpreet Singh): The Punjab Vigilance Bureau has written to the Enforcement Directorate (ED), seeking a probe into alleged money laundering involving Rs 736.96 crore and Shiromani Akali Dal leader Bikram Singh Majithia.
In its communication to the central agency on Thursday, November 5, the bureau alleged that Majithia was the “chief conspirator and beneficiary” of proceeds generated through illegal drug trade. These are allegations made by the Vigilance Bureau and have not been established by a court.
According to the bureau, the alleged proceeds were routed and settled through family members, close associates and a network of corporate entities.
Vigilance Bureau alleges use of shell companies and overseas routes
The bureau has claimed that several shell companies were floated to adjust the alleged proceeds of crime. It has also alleged that funds were transferred to Cyprus and Singapore through foreign companies.
The communication further alleges that the money was used to acquire properties, aircraft and other assets.
The bureau has asked the ED to examine the alleged financial transactions and investigate the suspected money-laundering network.
ED probe sought into alleged Rs 736.96-crore transactions
The alleged amount cited by the Vigilance Bureau is Rs 736.96 crore. The bureau’s communication seeks an ED investigation into the suspected laundering of these funds.
The allegations against Majithia remain claims made by the state Vigilance Bureau. Any findings by the ED, if an investigation is initiated, would be subject to the agency’s inquiry and the legal process.
