ED arrests four in ‘Siemens Project’ money laundering case
The Enforcement Directorate (ED) on Tuesday said that they have arrested four persons in a case related to “diversion and misutilisation of funds worth crores of rupees” of the Andhra Pradesh government disbursed for implementation of the ‘Siemens Project’.
New Delhi: The Enforcement Directorate (ED) on Tuesday said that they have arrested four persons in a case related to “diversion and misutilisation of funds worth crores of rupees” of the Andhra Pradesh government disbursed for implementation of the ‘Siemens Project’.
Through the ‘Siemens Project’, the Andhra Pradesh government aimed to provide advanced software and technical skills to the youth.
The arrested individuals have been identified as Soumyadri Shekhar Bose a.k.a. Suman Bose, ex-MD of Siemens Industry Software India Pvt Ltd (SISW), Vikas Vinayak Khanvelkar (MD of Designtech Systems Pvt Ltd), Mukul Chandra Agrawal, ex-Financial Advisor, and authorised signatory of Skillar Enterprises India Pvt Ltd, and Suresh Goyal, a Chartered Accountant
The official said that all the accused were presented at a Special PMLA Court in Visakhapatnam which remanded them to seven days’ custodial remand.
The official said that the PMLA investigation was initiated on the basis of an FIR registered by Andhra Pradesh CID regarding swindling of government money to the extent of Rs 241 crore in a dubious manner.
The ED investigation revealed diversion and siphoning off government funds given to Designtech Systems Pvt Ltd through Skillar Enterprises India Pvt Ltd, and thereafter, through a web of shell companies under the guise of supply of software, hardware, services without any genuine supplies.
“Investigation under the PMLA revealed that the purpose for such diversion of funds was to generate cash and thereby siphon off money from the system without utilising the same for the Siemens Projects for which funds were sanctioned by the government of Andhra Pradesh. So far, the money trail of diversion of around Rs 70 crore has been established during the ED investigation,” the ED said.