Sources further added that the operator in question is involved in several other cases and has converted many people’s black money into white.
Mumbai: The Enforcement Directorate (ED) has found an operator who allegedly handled 700 shell companies with 20 dummy directors to convert former deputy chief minister Chhagan Bhujbal’s money. Sources said the operator, a chartered accountant, had converted Rs 46.7 crore of black money into white for Bhujbal.
The ED found the operator after conducting searches in the premises of shell companies in the state as part of a nationwide operation against such companies.
Sources said the operator is an Andheri-based chartered accountant. “This CA had allegedly created a company called Devisha Enterprises for Bhujbal and showed 20 dummy directors and 700 shell companies to convert Bhujbal’s alleged black money into white. He had showed many fake transactions on behalf of this company and converted Rs 46.7 crore black money into white for him,” the sources said.
Sources further added that the operator in question is involved in several other cases and has converted many people’s black money into white. While he has not been arrested, he is being questioned and investigation is going on.
ED officials on Saturday officially said they have conducted a nationwide operation against shell companies of entities that do not have any substantial business but are suspected of having been used for laundering ill-gotten money and facilitating bogus foreign transactions. Searches have also been carried out in the premises of related professionals who are the brains behind the creation and operation of such shell companies.
The ED arrested senior NCP leader Bhujbal and his nephew in March 2016 in a money laundering case related to the construction of Maharashtra Sadan in New Delhi and the Kalina land grabbing case.
The arrest, under Section 19 (1) of the Prevention of Money Laundering Act, came after Bhujbal was questioned for more than 10 hours.