Properties worth 9.5 crores belonging to Abdul Karim Jaka have been attached to a money laundering case by the Enforcement Directorate. The case is a consequence of the FIR filed against R.A. Distributors Private Limited and others by the crime branch of Surat. They were alleged to have illegally remitted foreign exchange with the use of bogus bills of entry they submitted to the ICICI Bank in Surat.
The ED earlier discovered that three companies in the UAE and fifteen companies in Hong Kong got remittance of a huge amount of money by nine different companies with several accounts in a similar bank. The agency alleged that Mr Fatta Madanlal Jain, Bilal Haroon Gilani, Jayesh Desai and Rakesh Kothari created shell companies with invisible directors and partners and Mr Fatta deposited illegally earned commissions in foreign remittance all in the name of imports to Mr Jaka’s bank account. Five charge sheets have been filed against the accused as the properties of Mr Fatta, Mr Jain. Mr Shah, Mr Kothari and Mr Desai worth 17.15 crore are also attached to the case.
