The law is finally catching up with controversial Delhi-based meat exporter Moin Qureshi, who is under the scanner of probe agencies for alleged tax evasion and hawala-like dealings.
Accused of laundering over $100 million across the world through various channels – most notably his Pakistani wife Nasreen’s blood relatives and business associates – Qureshi has been booked by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA).
With the agency filing a fresh case under the PMLA, proceedings against the businessman will now be carried out under criminal laws as against the ones being conducted under the Foreign Exchange Management Act (FEMA) and Income Tax Act which are civil in nature.
Officials said that the agency slapped fresh charges after taking cognizance of the IT department’s charge sheet (also called prosecution complaint) against Qureshi in their alleged tax evasion case in a Delhi Court.
“The new rules notified by the agency state that in any case if the prosecuting agency (tax department here) has filed a complaint in a competent court and the court has admitted it, such a case can be taken up for probe under PMLA,” officials said.
“The case is based on findings of the I-T department, which has alleged criminal conspiracy on <g data-gr-id="29">part</g> of Qureshi. More people would be summoned for questioning,” said an ED official.
The IT department, during its probe, had found that Qureshi had 11 bank lockers in the names of his employees and associates. The lockers were operated by the employees of AMQ Group claiming that over Rs 11.26 crore in cash and jewellery worth over Rs 8.35 crore were found in these lockers.
If the ED is able to establish charges against Qureshi, he could face a maximum of 10 years
in prison. The ED had extensively questioned Qureshi earlier this year on laundering of money through companies based in Dubai and Pakistan.