ED files charges against Nath’s nephew

Tribune News Service

New Delhi, October 18

The Enforcement Directorate has filed a chargesheet in a special court here against Madhya Pradesh Chief Minister Kamal Nath’s nephew Ratul Puri in connection with Rs 8,000 crore bank loan money laundering case.

In the chargesheet, the ED claimed that Puri led a “lavish” lifestyle using a credit card issued by a Dubai-based hawala operator, an accused in the VVIP choppers scam, to travel in private jets and visit night clubs.

The prosecution complaint (chargesheet), which was filed on Thursday, includes names of Puri, his associates and Moser Baer India Ltd, a company promoted by his father, officials in the ED said.

The ED officials said the case registered under the criminal provision of the Prevention of Money Laundering Act relates to the “misappropriation” of about Rs 8,000-crore bank loans.

“A probe revealed that Puri had transferred funds consisting of bank loans to various subsidiaries of Moser Baer across the world in the guise of giving loans and investments,” an official said, adding: “Further, Puri with the help of various hawala operators and professionals created corporate structures in various jurisdictions and invested in asset-creation like buying factory, movable assets and also for funding a lavish lifestyle for which a credit card was got issued from Dubai-based hawala operator Rajiv Saxena.”

Saxena, a prime accused in the Rs 3,600-crore AgustaWestland VVIP choppers money laundering case, was deported to India from Dubai early this year. “The total amount spent on the credit card is US$ 4.5 million which has been used for lavish stays, on holiday travelling in private jets and night clubs,” the agency officials claimed.