NRI businessman Thambi arrested in money laundering case

NRI businessman C C Thampi has been arrested by ED in connection with a money laundering case. He has been arrested under the Prevention of Money Laundering Act (PMLA).

New Delhi:The ED has arrested NRI businessman C C Thampi, who is being probed for alleged forex violations of over Rs 1,000 crore and other charges, under the anti-money laundering law, officials said on Monday.

The central agency has been probing Thampi in a case of purchase of property in Kerala in alleged contravention of the Foreign Exchange Management Act (FEMA).

A show-cause notice of over Rs 1,000 crore was slapped by the ED against him in 2017.

The Dubai-based businessman has also been summoned by the agency in the past for questioning on his alleged links with Robert Vadra, son-in-law of Congress President Sonia Gandhi, and absconding arms dealer Sanjay Bhandari.

Thampi has been arrested under the Prevention of Money Laundering Act (PMLA), they said.

He is expected to be produced before a court on Monday for further custody, they said.

The firms that are being investigated by the ED, as part of the two FEMA show-cause notices issued against him, include Holiday City Centre Private Limited, Holiday Properties Private Limited and Holiday Bekal Resorts Private Limited.

Agency sources had said the businessman was also under the scanner for his reported dealings with some politicians and bureaucrats.

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