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Hindustan Times
03-05-2025
- Business
- Hindustan Times
ED to initiate action against fugitive ex-MLC Haji Iqbal under FEO Act
Former Bahujan Samaj Party (BSP) MLC Haji Iqbal alias Bala, who has several criminal cases registered against him and is facing several investigations, including one by the Enforcement Directorate (ED) in a Prevention of Money Laundering Act (PMLA) case, is likely to be declared the second fugitive economic offender (FEO) from Uttar Pradesh. Lucknow special court of PMLA cases on April 30 declared UP relator Rashid Naseem, the main promoter of Shine City Group, as the first FEO from Uttar Pradesh on the request of the ED. Around 10 people, including liquor baron Vijay Mallya and diamond merchant Nirav Modi, have been declared fugitive economic offenders by courts since 2018. A senior ED official said the ED Lucknow unit is currently investigating a Prevention of Money Laundering Act (PMLA) case lodged against the former MLC. The ED has attached his properties worth ₹4,440 crore in form of Global University setup in Mirzapur area of Saharanpur and other agricultural land, he added. The ED official said Haji Iqbal shifted his base to Dubai to evade arrest by law enforcement agencies after his four sons Wajid, Afzal, Alishan and Javed and his brother Mehboob Ali were arrested on different charges, including extortion, fraud, embezzlement of funds etc and have been languishing in jail for over 18 months now. The state police have announced a reward of ₹1 lakh for the arrest of former MLC. 'The ED will soon file an application under section 4 of the Fugitive Economic Offender Act (FEOA), 2018 before the Lucknow special court (PMLA), for declaring Haji Iqbal as fugitive economic offender and pray for confiscation of his movable and immovable assets, his associates and companies controlled by them,' confirmed the ED official. He said the ED investigation has found the former MLC's involvement in the offence of money laundering. He said the investigation has revealed that the former MLC has left India, and it is conclusively ascertained that he is residing in Dubai. He is not returning to India to face due process of law. A non-bailable warrant, look out circular and Red Corner Notice have been issued against him, the officer said.
The Hindu
03-05-2025
- Politics
- The Hindu
98% of ED cases involving politicians filed against opposition leaders: TMC's Saket Gokhale
Trinamool Congress leader Saket Mr. Gokhale on Saturday (May 3, 2025) said 98% of the cases filed by the Enforcement Directorate against politicians were against Opposition leaders. 'The remaining two% are those who went and joined the BJP's 'washing machine,'' he said. Mr. Gokhale referred to Thursday's (May 1) statement of ED Director Rahul Navin, to claim that the surge in cases post-2014 was at the behest of Narendra Modi, who came to power the same year. Speaking at an event on ED Day, Mr. Navin said the anti-money laundering law had been 'largely ineffective' before 2014 and there has been a significant step-up in enforcement activity since then. In a post on X, Mr. Gokhale said, 'Yesterday, the head of central agency ED admitted that there's been a surge of cases filed after Modi Government came to power in 2014.' 'In the last 11 years, a total of 5,297 cases were filed by ED. How many were taken to court for trial? Only 47,' he said. The TMC Rajya Sabha MP said the conviction rate in ED cases is only 0.7%. 'That means out of every 1,000 cases filed, accused were found guilty in only seven cases,' he said. 'Therefore, out of every 1,000 cases, 993 cases are filed by ED purely to keep a person in jail because getting bail under the draconian PMLA is almost impossible,' he said. According to the ED Director, 1,739 cases filed under the Prevention of Money Laundering Act are under trial at present. He said out of the 47 cases decided by courts, the conviction rate was 93.6% with only three acquittals. Meanwhile, Mr. Gokhale accused the Centre of using the probe process as a punishment. 'The idea is to turn the process into punishment in order to blackmail and extort the innocent accused into breaking down and following the orders of the BJP,' he said. Mr. Navin on Thursday (May 1) claimed that the slowdown in the adjudication of these cases could be attributed to a 'general delay' in the judicial system of the country, combined with the inherent complexity of such investigations. Speaking at an event held in New Delhi to mark the ED Day, the agency chief said though the PMLA was enacted in 2003 and came into force on July 1, 2005, it was 'largely ineffective' in the initial years with less than 200 cases per year, mostly 'restricted' to drug-related offences. 'After 2014, however, there has been a significant step-up in enforcement activity. From 2014 to 2024, 5,113 new PMLA investigations were initiated, averaging more than 500 cases per year,' Navin said. The central probe agency was established on May 1, 1956. It implements two criminal laws — The Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) — apart from the civil provisions of the Foreign Exchange Management Act (FEMA).
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Business Standard
03-05-2025
- Politics
- Business Standard
98% ED cases against politicians target Oppn leaders, claims TMC's Gokhale
Trinamool Congress leader Saket Gokhale on Saturday said 98 per cent of the cases filed by the Enforcement Directorate against politicians were against opposition leaders. "The remaining two per cent are those who went and joined the BJP's 'washing machine,'" he said. Gokhale referred to Thursday's statement of ED Director Rahul Navin, to claim that the surge in cases post-2014 was at the behest of Narendra Modi, who came to power the same year. Speaking at an event on ED Day, Navin said the anti-money laundering law had been "largely ineffective" before 2014 and there has been a significant step-up in enforcement activity since then. In a post on X, Gokhale said, "Yesterday, the head of central agency ED admitted that there's been a surge of cases filed after Modi Government came to power in 2014." "In the last 11 years, a total of 5,297 cases were filed by ED. How many were taken to court for trial? Only 47," he said. The TMC Rajya Sabha MP said the conviction rate in ED cases is only 0.7 per cent. "That means out of every 1000 cases filed, accused were found guilty in only seven cases," he said. "Therefore, out of every 1000 cases, 993 cases are filed by ED purely to keep a person in jail because getting bail under the draconian PMLA is almost impossible," he said. According to the ED Director, 1,739 cases filed under the Prevention of Money Laundering Act are under trial at present. He said out of the 47 cases decided by courts, the conviction rate was 93.6 per cent with only three acquittals. Meanwhile, Gokhale accused the Centre of using the probe process as a punishment. "The idea is to turn the process into punishment in order to blackmail and extort the innocent accused into breaking down and following the orders of the BJP," he said. Navin on Thursday claimed that the slowdown in the adjudication of these cases could be attributed to a "general delay" in the judicial system of the country, combined with the inherent complexity of such investigations. Speaking at an event held here to mark the ED Day, the agency chief said though the PMLA was enacted in 2003 and came into force on July 1, 2005, it was "largely ineffective" in the initial years with less than 200 cases per year, mostly "restricted" to drug-related offences. "After 2014, however, there has been a significant step-up in enforcement activity. From 2014 to 2024, 5,113 new PMLA investigations were initiated, averaging more than 500 cases per year," Navin said. The central probe agency was established on May 1, 1956. It implements two criminal laws --The Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) -- apart from the civil provisions of the Foreign Exchange Management Act (FEMA).
Time of India
03-05-2025
- Business
- Time of India
Lucknow court declares Shine Group promoter fugitive economic offender
LUCKNOW : A special PMLA court here has declared Rashid Naseem , the main promoter of city-based Shine City Group , as a fugitive economic offender in a case linked to alleged fraud of Rs 800-Rs 1,000 crore against depositors, the ED said. The court issued the order on April 30 under Section 12(1) of the Fugitive Economic Offenders Act (FEOA) of 2018, the federal probe agency said in a statement issued on Thursday. The FEOA is aimed to bring to justice those people who have left India to evade the clutches of law after committing fraud with a benchmark value of at least Rs 100 crore. With this order, the agency can now move to "confiscate" assets worth about Rs 128 crore that have been attached by it as part of a money laundering investigation against the company, its promoters and others. The probe relates to a Prevention of Money Laundering Act (PMLA) case initiated after the ED took congisance of 554 FIRs registered by the Uttar Pradesh Police against Naseem and the Shine City group of companies. "The FIRs alleged large-scale fraud wherein public funds of Rs 800-Rs 1,000 crore were collected through fraudulent real estate schemes and multi-level marketing with promises of high returns. The investors were ultimately cheated," the ED said. Naseem, according to the agency, "deliberately" evaded the investigation, failed to appear despite issuance of summons, and ultimately absconded from India via Nepal and is currently residing in Dubai, UAE. Despite issuance of a non-bailable warrant, a look out circular (LOC) , and a Interpol Red Notice, Naseem "refused" to return to India to face criminal proceedings, it said. The agency, hence, filed an application seeking to get declared Naseem a fugitive economic offender under the FEOA. The ED said the court declared Naseem an offender under the law as it concluded that he has left India to "avoid" criminal prosecution and being abroad he has refused to return to face legal proceedings. "Rashid Naseem has been declared a fugitive economic offender and the confiscation proceedings for attached properties worth Rs 127.98 crore shall now proceed before the court as per law," the ED said. The agency has attached assets worth Rs 127.98 crore as part of the money laundering probe and has filed four chargesheets till now. With this order, a total of 15 people have been declared fugitive economic offenders by different courts, including liquor baron Vijay Mallya and diamond trader Nirav Modi. The agency has filed 24 such applications including against diamantaire Mehul Choksi who was recently arrested in Belgium.
Deccan Herald
02-05-2025
- Deccan Herald
Lucknow court declares Shine Group promoter fugitive economic offender
The court issued the order on April 30 under Section 12(1) of the Fugitive Economic Offenders Act (FEOA) of 2018, the federal probe agency said in a statement issued on Thursday.
