SAD leader Majithia allegedly laundered Rs 540 crore through shell firms, tax havens: Vigilance Bureau
CHANDIGARH: Senior Shiromani Akali Dal (SAD) leader Bikram Singh Majithia, brother-in-law of SAD president Sukhbir Singh Badal, who was arrested by the Punjab Vigilance Bureau on Wednesday for allegedly laundering more than Rs 540 crore of "drug money", was on Thursday sent to a seven-day vigilance remand by a court in Mohali.
The court order came two-and-a-half hours after Majithia was brought into the court complex. Speaking to the media, Ferry Sofat, the advocate representing the Vigilance Bureau, said the Bureau had sought a 12-day remand for the accused, but the court granted a seven-day remand. Majithia will now be produced before the court again on July 2.
Sofat told the court that Majithia had allegedly "threatened" the vigilance team when they raided his residence.
He added that Majithia had failed to account for the source of Rs 540 crore in income. "Saraya acquired wealth and got Rs 161 crore cash deposited in bank accounts and Rs 141 crore through foreign entities. There is no explanation or legitimate source for it. While Rs 236 crore has been credited to the accounts of Saraya, there is no explanation for this in financial statements," he said.
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