Hasan Ali earned commission in Boeing-AI deal: ED report
Pune-based stud farm owner Hasan Ali Khan, accused of money-laundering, earned $11.5 million as a commission for facilitating sale of two Boeing 747 aircraft for $230 million to Air India during 1986-87, according to the Enforcement Directorate.mumbai Updated: May 20, 2011 22:21 IST
Pune-based stud farm owner Hasan Ali Khan, accused of money-laundering, earned $11.5 million as a commission for facilitating sale of two Boeing 747 aircraft for $230 million to Air India during 1986-87, according to the Enforcement Directorate.
The information is contained in the report prepared by the ED in January 2007, which is a part of the annexure to the Enforcement Case Information Report (EICR).
EICR -- part of the chargesheet filed by ED against Khan recently -- says the commission amount was "purportedly not repatriated to India by RM Investments and Trading Co Ltd" (owned by co-accused Kashinath Tapuriah).
Further, "clear cut indications are there of corruption money involved in mega-transactional deals representing commission (which appear to be illegal) received on sale of Boeing Aircrafts held by Air India".
According to the EICR, the transactions were a part of the series of transactions which involves several violations of Indian Banking laws.
"The unholy nexus of this huge amount of illegal money generated with subversive activities and terrorism needs a probe", ED says.
According to EICR, the volume of transactions, the nature, and their international links/ ramifications strongly indicate that origin of this money was of very suspicious nature.
"It is suspected that these accounts with such huge deposits contain money originating from various international destinations and are proceeds of heinous crimes such as terrorism, gun-running, corruption and organised forgery and fraud," the ED report says.