Chennai, Feb 18 (BPNS)

The CBI Special court in Chennai on Friday sentenced a person, Haroon Rasheed for four years of rigorous imprisonment in a case related to money laundering to the tune of Rs 34.99 crore rupees.

The court also directed Rasheed to pay an amount of Rs 6 lakh as a fine and if not paid to undergo two more months of rigorous imprisonment.

Rasheed was arrested on March 21, 2018, for laundering an amount of Rs 5. 41 crores under two different assumed names through four current accounts maintained with different banks between February 12, 2014, to November 29, 2014. The CBI in its charge sheet said that using these accounts he transferred an amount of Rs 34.99 crore to various foreign countries which were pure money laundering.

He projected the amount as permissible merchandise import payments without making corresponding imports into the Domestic Tariff Area (DTA). The CBI charged that he was using forged identity documents and import documents like bills of entry as genuine documents.

The CBI, during the investigation also found that Rasheed was part of a gang that operated with complete anonymity in the matter of sending the proceeds of the crime under the guise of permissible merchandise imports. This he was doing without making corresponding imports into the Domestic Tariff Arena (DTA) by using forged import documents.

It is noted that this was the third conviction in Tamil Nadu in a  case under the Prevention of Money Laundering Act (PMLA) 2002. Of the 10 cases of PMLA that were given punishment in the country, Tamil Nadu accounts for three. The CBI special team led by investigating officer, M. Raja Sekhar, and Joint Director, P. Manikkavel conducted the investigation in all three cases and got the accused convicted.