Visakhapatnam: Enforcement Directorate on Friday (April 23) filed a prosecution complaint before PMLA Special Court in Visakhapatnam against three persons accused of money laundering.
ED has charged Deepak Agarwal, AyushGoyal and Pramod Agarwal for allegedly laundering money to the tune of Rs 1500 crore.
The agency had initiated an 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.
The 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.
According to ED, Vaddi 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.
Subsequently, ED filed its first prosecution complaint against Vaddi Mahesh, Bhimendra Kumar Goyal and others in October last year PMLA Special Court.
Further investigation revealed that this was done as part of a large-scale trade-based money laundering scam, in which Vaddi Mahesh had received funds into the bank accounts of his firms through Ayush Goyal and Pramod Agarwal and remitted those funds outside India on the instructions of the co-accused.
ED had earlier arrested the kingpin of this international scam, Bhimender Kumar Goyal in September last year and filed the prosecution complaint against him next month. Deepak Agarwal and Ayush Goyal were also arrested by ED in February this year.
