"We have completed 90% of investigations into the money laundering and will file a separate chargesheet soon in a local court," a senior official of the enforcement directorate here said.
The enforcement directorate, probing the multi-crore financial fraud in Satyam Computers, under the provisions of Prevention of Money Laundering Act (PMLA) has completed 90 per cent of investigations and will file a chargesheet soon, a senior official said.
"We have completed 90% of investigations into the money laundering and will file a separate chargesheet soon in a local court," a senior official of the enforcement directorate here told PTI.
The enforcement directorate, the agency under the finance ministry exclusively dealing with violations of foreign exchange regulations, is part of the multi-disciplinary investigation team probing the Satyam accounting scam involving its founder B Ramalinga Raju and others.
The ED had last year interrogated prime accused in Satyam
fraud case Ramalinga Raju, his brother and former Satyam MD
Rama Raju, ex-CFO Vadlamani Srinivas, former PriceWaterhouse
(PW) auditors - S Gopalakrishnan and T Srinivas under the
provisions of the Prevention of Money Laundering Act.
The department has also recorded statements of four Satyam (employees) accused last month.
The ED, has also sought details of bank accounts of erstwhile Satyam Computers, through Letter Rogatory (a request for legal assistance) prepared by the department which were sent to 34 countries, by a local court here recently.
Satyam had floated American Depository Receipts (ADRs)
for a consideration of $152 million in 2001. Total proceeds
had to be repatriated in 6 months-1 year period, the official
said, adding "We are investigating whether this amount was
brought back or not."
"We have to now check Satyam accounts and verify whether the amount is still parked outside," the official said.
Invoking provisions of PMLA and Foreign Exchange Management Act (FEMA), the Department had filed these letters seeking statements and documents connected to the accounts through the court.
The letters have been sent to courts concerned in these 34 countries which in turn will direct the authorities and persons, collect documents and return them to the court here, the Enforcement Directorate official said.
The countries to which these Letter Rogatory's were sent include United States, South Africa, United Kingdom, Germany, Spain, Italy, Hungary, Belgium, France, Ireland, Denmark, Canada, Switzerland, Mauritius, Sri Lanka, Japan, Taiwan, Australia, New Zealand, United Arab Emirates and others.
He said the department was likely to get a reply in next three months on its queries from these countries.
The Enforcement Directorate has so far attached 340 properties that include vast agricultural plots, flats owned by Raju and 131 others, including his family members, allegedly acquired through the proceeds from the country's largest corporate fraud.
The ED's investigations are on and some more properties would be attached over the next few months, the official said.
The ED had registered a case against Raju and his family under the PMLA, which defines money laundering offences as those with money derived from any activity connected with the proceeds of crime and provides for freezing and seizing the proceeds of crime.
The CBI, also investigating the Satyam fraud has also filed three charges-sheets so far.
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