10-day ED custody for ex-bankers in Rs 590-crore scam

Chandigarh: A special PMLA court in Panchkula on Monday remanded former bank employees Rishav Rishi and Abhay Kumar — alleged prime accused in the Rs 590 crore bank scam involving govt funds — in 10-day Enforcement Directorate (ED) custody.Rishav and Abhay were brought to court on production warrants. While seeking custody, ED prosecutor informed the court of special judge Vijayant Sehgal that investigation has revealed more facts about the ‘layers of money laundering' allegedly carried out by the duo in connivance with some govt officials and private individuals.The prosecutor gave details of how the two allegedly siphoned govt funds and diverted the money into their personal accounts, specifically elaborating the diversion of Rs 400 crore from a govt department account by using the identities of a personal assistant, driver and the driver's wife.The federal agency also produced records establishing the alleged diversion of funds and documents of those who helped in opening shell companies. Scrutiny of the shell companies' documents revealed that the mobile numbers used for bank operations were largely those of Rishav and Abhay, said ED.Abhay's wife Swati Singla and her brother Abhishek Singla were owners of one of the companies where the funds were diverted, and they too are in police custody, said the agency.Opposing ED's request for custody, defence counsel Yavnee Dhakla asserted that there was no need for custodial interrogation as the agency had questioned the accused in Ambala jail for three days last month. He referred to records submitted by Haryana's state agency to press his case that there was no need for custody of the person.However, acceding to ED's request, the court ordered 10-day remand for the two and directed the agency to allow them to meet their defence lawyers for one hour every day.MSID:: 131015746 413 |