New Delhi:A Delhi court has taken cognisance of the chargesheet filed by the Enforcement Directorate (ED) against 'notorious' hawala operator Naresh Jain and issued non-bailable warrants (NBW) against four of his absconding co-accused.
The ED in a statement said that it had filed a chargesheet against Jain on October 28 under the sections of Prevention of Money Laundering Act (PMLA) in connection with the ongoing investigation into his role in money laundering and international hawala transactions.
It said the Special PMLA Court took cognisance of the chargesheet on Monday and issued NBWs against the four co-accused who are absconding.
The ED said that the investigation conducted so far has revealed that Jain along with his accomplices hatched a criminal conspiracy to forge or 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.
The ED claimed that Jain allegedly ran an international syndicate of transferring funds through hawala channels using shell companies, tour-and-travel firms and through the formal banking network.
It said that documents like identity proof, birth and education certificates, voter IDs, PAN cards and signatures were forged or fabricated to incorporate entities, operate bank accounts, facilitate bogus or over-invoiced or under-invoiced import and export transactions and rotation of funds through a web of shell companies to cause undue benefit to the parties involved and loss to the government exchequer.