The Enforcement Directorate (ED) on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in the alleged Rs 538 crore fraud in Canara Bank. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). He is currently in judicial custody in Arthur Road Jail, Mumbai. A lawyer associated with the case said that a chargesheet has been filed against Goyal and others in a court here, which is likely to be taken up on Wednesday.
This case of money laundering has come to light from the FIR registered by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita Goyal and some former officials of the company in the case of alleged fraud.
Allegation of embezzlement of money from India to foreign countries by creating a trust
The FIR was lodged on the bank's complaint alleging that it had given a loan of Rs 848.86 crore to Jet Airways (India) Ltd, of which Rs 538.62 crore was outstanding. Earlier, during the remand hearing, the investigating agency had said that the founder of Jet Airways embezzled money from India to foreign countries by forming various trusts abroad.
Investigation revealed that the accused had created several trusts abroad and through those trusts he had purchased various immovable properties. It said that the money used for these trusts is nothing but Proceeds of Crime (POC) which was sent abroad from India.
Immovable properties acquired by creating a network of companies in India
The ED said their investigation revealed that Goyal had purchased high-value properties in Mumbai and later sold them. He also created a network of companies in India through which he acquired a lot of immovable properties. Citing an audit report, the ED has claimed that the loan taken by Jet Airways (India) Limited (JIL) was used to purchase fixed assets such as furniture, apparel and jewellery. The salaries of Goyal's residential staff and the operating expenses of a production company owned by his daughter were also paid from JIL accounts.