Rs 180 crore JNPT scam: Forger Bangawala's account frozen
Last year, the Central Bureau of Investigation (CBI) had arrested Bangawala from Gujarat (Rajkot) for his alleged involvement in forging letters on behalf of JNPT and making surreptitious transfer of crores of rupees from Oriental Bank of Commerce (OBC).
The Enforcement Directorate (ED) has freezed the bank account of Rajesh Bangawala, one of the main accused in Rs 180 crore Jawaharlal Nehru Port Trust (JNPT) scam. This bank account with around Rs 30-35 crore is located at HSBC's Hong Kong Branch, sources confirmed Indiatoday.in.
Last year, the Central Bureau of Investigation (CBI) had arrested Bangawala from Gujarat (Rajkot) for his alleged involvement in forging letters on behalf of JNPT and making surreptitious transfer of crores of rupees from Oriental Bank of Commerce (OBC).
JNPT had registered a complaint with the agency earlier in 2014 that somebody had surreptitiously transferred Rs 180 crore from two branches of Oriental Bank of Commerce (OBC).
After registering the case under various provisions of IPC and POCA, the CBI started investigation and secured a court order for reversal of JNPT funds. Even a cash reward of Rs 1,00,000 was annouced for information leading to his arrest and CBI had circulated his pictures in various national dailies. (check the picture)
Soon after the arrest, CBI obtained a court order for reversal of JNPT's funds. Out of Rs 180 crore, Rs 110.12 crore parked with few other banks were seized, Rs 5.57 crore with OBC was remitted back to JNPT, while Rs 64.31 crore was untraced.
The ED began the investigation of this scam under the Prevention of Money Laundering Act (PMLA). During its investigation, ED got a link that Bangawala has deposited crores of money in HSBC, but outside India.
Last week, the ED team questioned Stuart Milne, CEO of HSBC India for over five hours at its Mumbai office, seeking details of Bangawala bank accounts.
"The untraceable amount of Rs 60 crore was transfered by Bangawala to his account in the HSBC's Hong Kong branch," the source said,
As the investigation deals with HSBC (which is still at a crucial stage), whose Mumbai's office was survyed by Income Tax department last week on black money issue, the tight-lipped ED officials are in a tight position to share much details in this case.
However, HSBC Spokesperson declined to comment on ED's action on Bangawala bank account, but said, to Indiatoday.in that, "we have been cooperating with all agencies."