Delhi, India: In a case associated with Gujarat-based businessmen Sandesara brothers’ 14,500-crore bank loan fraud, assets worth crores of actor Dino Morea, late Congress politician Ahmed Patel’s son-in-law, and DJ Aqeel Abdul Khalik Bachoo Ali have been seized.
A money-laundering investigation led to the discovery of transactions between the Sandesara’s and Irfan Siddiqui, Dino Morea, and DJ Aqeel, according to the Enforcement Directorate, which investigates financial crimes.
According to their findings, the Sandesaras paid DJ Aqeel 12.54 crore, Irfan Siddiqui 3.51 crore, and Dino Morea 1.4 crore. The ED described such transactions as “proceeds of crime,” adding that Irfan Siddiqui’s assets worth 2.41 crore, DJ Aqeel’s worth 1.98 crores, and Dino Morea’s worth 1.4 crores had been attached. “Assets worth 14,521 crores have been attached so far out of a total of 16,000 crore deemed proceeds of crime in the Sandesaras case,” stated an ED officer.
Sterling Biotech and its primary promoters and directors, Nitin Jayanti Lal Sandesara, Chetan Kumar Jayanti Lal Sandesara, and Deepti Sandesara, are accused of committing a Rs 14,500 crore bank loan scam. Nitin and Chetan Kumar are brothers who escaped India with others in 2017 and are currently thought to be in Nigeria, where authorities are attempting to deport them.
According to investigators, this bank fraud is larger in scale than the Punjab National Bank fraud involving jewelers Nirav Modi and Mehul Choksi.