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Bengaluru: ED attaches bank accounts of Lokayukta’s son Ashwin


www.mangaloretoday.com

Bengaluru, October 4, 2015: The Enforcement Directorate (ED) has attached the bank accounts of Yerabati Ashwin, son of Lokayukta Justice Y Bhaskar Rao, in connection with the case of money laundering.

Ashwin RaoThe Special Investigation Team (SIT), probing the extortion and corruption  cases in Lokayukta, had unearthed dubious transaction of Rs 4.9 crore in Ashwin’s bank accounts, especially in one of the accounts in Hyderabad.

The ED had registered a case under sections of Prevention of Money Laundering Act after the SIT submitted the chargesheet in the first case (56/2015). The SIT had found an unusual transaction of money in Ashwin’s Kotak Mahindra Bank account in Hyderabad after January 2015. During the investigation, the SIT had found that there were two accounts in Ashwin’s name with State Bank of India’s Ameerpet branch, two accounts in Ashwin’s wife Srilata’s name with State Bank of India’s Jubilee Hills Branch and a joint account in the names of Ashwin and Srilata with Kotak Mahindra Bank’s Abids Road branch in Hyderabad.

Ashwin has a savings account and a current account with Kotak Mahindra Bank through which he has transacted crores of rupees from 2015. In this account, his balance till September 2014 was merely Rs 7,441. On January 16, 2015, on a single day, Rs 18 lakh and Rs seven lakh was credited. After this, some companies have credited huge amounts through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS).

In this connection, the SIT has taken the statements of two Chartered Accountants, who were contacted by Ashwin while filing the Income Tax returns. One of the Chartered Accountants, B N Sirish, stated that Ashwin had approached him in January 2015 seeking advise to convert inexplainable cash into legal money.

“Ashwin was an influential person and his father was former Chief Justice of High Court of Karnataka. I believed him and helped him to convert his inexplainable money of Rs 4.9 crore to legal money. I passed on all the contact numbers to Ashwin,’’ he said in the statement.

During the probe, it was revealed Mahathi Software Pvt Ltd and Rita Commodity Pvt Ltd, Hyderabad based companies, Excel Vanijya Pvt Ltd, a Kolkata based company, Intelligent-Pitch Consultancy and Kwality Agro Products Pvt Ltd were used to convert Ashwin’s inexplainable money. Ashwin’s men deposited cash in the accounts of Mahathi Software (Rs 90 lakh), Intelligent-Pitch Consultancy (Rs one crore), Rita Commodity (Rs one crore), Excel Vanijya (Rs 1.75 crore) and Kwality Agro Products (Rs 25 lakh) which were subsequently transferred to the account of Ashwin.

“The investigation is still to find out the antecedents of these companies which have facilitated the transfer only to legalise the money. There is prima facie evidence for money laundering; hence, the bank accounts have been attached. The probe is still on to ascertain whether money was invested in purchase of sites,”a source said.


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