Non-bailable warrants against 4 in 'hawala' case

Tribune News Service

New Delhi, November 3

The Enforcement Directorate (ED) today said it had procured non-bailable warrants from the PMLA court against absconding Naresh Jain and his accomplices in a Rs 565-crore international hawala case.

The agency said a Delhi special court under the Prevention of Money Laundering Act (PMLA) took cognisance of the prosecution complaint filed by the ED and issued the non-bailable warrants against the accused persons.

The ED flied the prosecution complaint on October 28 in connection with its ongoing probe into his role in money laundering and international hawala transactions.

Officials in the agency said that so far the investigation conducted under the PMLA revealed that Jain along with his accomplices hatched a criminal conspiracy to forge and fabricate documents in order to cause loss to the government exchequer and banks by providing accommodation entries to the beneficiaries and indulging in illegal foreign exchange transactions.