Mumbai: A special court dealing with cases under the Prevention of Money Laundering Act (PMLA) here on Monday sent a man to 14-day judicial custody in a Rs 263-crore income tax refund fraud-linked money laundering case investigation. Citing its investigation, the Enforcement Directorate said there is reason to believe that the person, Purshottam Chavan, is guilty of the offence of money laundering.
He is actively involved in crime and played a crucial role at various stages in laundering the proceeds of crime, said ED. The agency arrested Chavan on May 20, a day after the agency raided his premises in Mumbai. He was produced before special PMLA judge MG Deshpande at the end of his remand on Monday. The court sent him to judicial custody as sought by the probe agency.
The ED told the court that the accused has destroyed evidence which could lead to unearthing the end utilization of the funds received by him. The accused, during his custodial interrogation, did not share details about the amount of funds he actually received, its mode and manner as well as further utilization of the money, the ED said.