India: ED scanner on ex-CM’s Rs 300 crore money laundering
04 Nov 2016

The Enforcement Directorate (ED) is probing a Rs 300-crore money-laundering racket involving a former chief minister and an NRI builder, who is developing a luxury residential project in central Mumbai.

Sources told TOI that the politician is believed to have diverted Rs 300 crore from accounts maintained in tax havens in Cyprus and Mauritius into a residential project promoted by the builder. The project recently ran into a controversy for violating rules.The ED suspects the accounts in tax havens belong either to the former minister or his family members who are active in politics.

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