Akali chief Majithia arrested for ‘laundering’ Rs 540 cr of ‘drug cash’
In March, the SIT claimed that it discovered “suspicious monetary transactions” in corporations linked to Majithia and his household. The SIT additionally expanded its investigation to scrutinise monetary transactions overseas, it stated in March.
The vigilance spokesperson stated the probe by the SIT and the bureau revealed “large laundering of drug cash facilitated by Majithia amounting to greater than Rs 540 crore”.
It included large unaccounted money value Rs 161 crore deposited in financial institution accounts of firms managed by Majithia, channelisation of Rs 141 crore by means of suspected overseas entities, extra deposition of Rs 236 crore with out disclosure or rationalization in firm monetary statements, and acquisition of movable and immovable property by Majithia with none official supply of revenue, the spokesperson stated.
The SIT probe indicated that drug cash was funnelled into Saraya Industries, which is run by Majithia and his members of the family, he added.
To date, Rs 540 crore of “drug cash” has been tracked as having been generated illegally utilizing the affect of Majithia as a public servant (MLA), holding a Cupboard publish within the erstwhile Punjab authorities, the spokesperson stated.
The bureau seized greater than 30 cellphones, 5 laptops, three iPads, two desktops, a number of diaries, property-related paperwork, and paperwork associated to Saraya Industries throughout the raid, sources stated.
In response to the FIR, Majithia collected huge wealth, properties and enterprise pursuits in his identify and within the names of his members of the family, which seem like grossly disproportionate to his official sources of revenue.
Because the information of the raid unfold on social media, Akali leaders and supporters headed in direction of Majithia’s residence and raised slogans in opposition to the Bhagwant Mann authorities. Nonetheless, a heavy police power was deployed on the highway resulting in Majithia’s home, with nobody allowed to move the barricades.
As a crew of officers entered Majithia’s home, Ganieve Kaur requested them, “What is going on? I need to know what’s going on… How did you barge into my home with out my information?”
Majithia additionally stated the vigilance officers “barged” into his home, “terrorising” his kids. The previous minister could possibly be heard arguing with a DSP-rank vigilance officer, expressing his dismay over the way by which they entered his home.
