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ED arrests meat exporter Moin Qureshi in money laundering case

News Agencies | Updated on: 26 August 2017, 11:57 IST

Meat exporter Moin Qureshi, on 26 August was arrested by Enforcement Directorate (ED) in connection to a money laundering case.

The billionaire meat exporter, Qureshi was arrested in Delh, under the Prevention of Money Laundering Act.

He has also been registered under Foreign Exchange Management Act ( FEMA) case by ED.

Former CBI director A.P. Singh is also involved in Moin Qureshi case and had earlier reacting on Enforcement Directorate (ED) planning to register case against him under Prevention of Money Laundering ACT (PMLA) saying that he feels he is being targeted.

Querishi is expected to be presented before the Special ED Court today.

Earlier, the Enforcement Directorate had registered a case of money laundering against Qureshi, whose links with senior CBI officers, were revealed during an investigation carried out by the Income Tax department.

Qureshi is also facing IT charges of black money for not disclosing income of Rs. 20 crore.

As per sources, the Enforcement Directorate had booked Qureshi under various Sections of the Prevention of Money Laundering Act (PMLA) and is investigating funds to the tune of Rs. 200 crore stashed by him abroad.

The Income Tax department, during its probe, found that Qureshi had 11 bank lockers which were in the names of his employees and associates.

The lockers were operated by the employees of Qureshi's AMQ Group. Over Rs. 11.26 crore in cash and jewellery worth over Rs. 8.35 crore were found in these lockers.

According to sources, it has been alleged that Qureshi was taking favour from public servants and money from various unknown sources. 


First published: 26 August 2017, 11:57 IST