ED arrests four persons in AP Skill Development money laundering case
ED has arrested four persons in connections with AP Skill Development Corporation case and detected a money trail of Rs 70 crore so far
VISAKHAPATNAM: Directorate of Enforcement (ED) has arrested four persons in connections with AP Skill Development Corporation case and detected a money trail of Rs 70 crore so far.
The ED release said it had arrested Soumyadri Shekhar Bose alias Suman Bose, Ex MD of M/s Siemens Industry Software India Pvt Ltd (SISW), Vikas Vinayak Khanvelkar (MD of M/s Designtech Systems Pvt Ltd, Mukul Chandra Agrawal, Ex Financial advisor, and authorised signatory of M/s Skillar Enterprises India Pvt Ltd and Suresh Goyal, Chartered Accountant in the money laundering case for diversion and misutilisation of Crores of funds of Andhra Pradesh Government disbursed for implementation of “Siemens Projects” in which the Government of AP had aimed to provide advanced software and technical skills to the AP youth.
All the said four accused were produced before the Special PMLA Court, Visakhapatnam, which granted 7 days custody of the accused persons to the Enforcement Directorate.
PMLA investigation was initiated on the basis of an FIR registered by AP CID regarding swindling of Government money to the extent of Rs. 241 Crore in a dubious manner. The ED investigation revealed diversion and siphoning off Government funds given to Designtech Systems Pvt Ltd through M/s Skillar Enterprises India Pvt Ltd and thereafter through a web of shell companies under the guise of supply of software/hardware/materials/services without any genuine supplies. Investigation under PMLA revealed that the purpose for such diversion of funds was to generate cash and thereby siphon off money from the system without utilising the same for the Siemens Projects for which funds were sanctioned by the Government of Andhra Pradesh. So far, money trail of diversion of around Rs. 70 Crore has been established during ED investigations.