Hasan Ali Khan arrested, to be produced before Mumbai court
After six hours of grilling in Mumbai on March 7, the Enforcement Directorate has finally arrested Pune-based real-estate businessman and stud farm owner Hasan Ali Khan on Monday, who is accused of stashing black money abroad. Debobrat Ghose reports.Updated: Mar 08, 2011 15:21 IST
After six hours of grilling in Mumbai on March 7, the Enforcement Directorate (ED) has finally arrested Pune-based real-estate businessman and stud farm owner Hasan Ali Khan on Monday, who is accused of stashing black money abroad.
He will be produced before a court in Mumbai in the later part of the day.
The action on Hasan Ali comes immediately after the Supreme Court slammed the government over its inaction against the black money hoarders, and Hasan Ali in particular.
The enforcement directorate (ED) first issued a 'Look Out' circular against him on March 4 and raided his premises on March 7.
The ED arrested Hasan Ali under violation of Prevention of Money Laundering Act (PMLA).
The Directorate will file a status report under the supervision of the director, ED in 10 days.
Immediately, after the arrest, he complained of illness and has been taken to JJ Hospital for a medical check-up.
Meanwhile, the apex court has questioned as to why the Prevention of Terrorism Act (POTA) not be invoked against Hasan Ali and why he not be charged with the violation of Foreign Exchange Management Act (FEMA).
However, claiming innocence, Hasan Ali has stated his arrest and action against him as a "political conspiracy".
The ED conducted raids in 14 locations across the country, including at Hasan Ali's residence at Koregaon Park in Pune and, at the residences of his associates Kashinath Tapuriah (park Street, Kolkata) and Philip Raj Anand (Gurgaon).
There are allegations against Hasan Ali of money laundering, hawala operation, allegedly transferring cash and valuable assets outside the country by unlawful means with the help of foreign nationals, forgery and alleged to have connections with arms and terror networks abroad.
According to sources, Hasan Ali, who hails from Hyderabad, is allegedly has connections with the Saudi Arabian arms dealer Adnan Khashoggi, who in turn is associated with terror networks.
The investigators found unexplained wealth and huge fund transfers abroad by Hasan Ali.
He is alleged to have stashed away over $8 billion in an account in UBS in Zurich (Switzerland).
"The ED is investigating all aspects of money transactions and other issues," a source from Mumbai said.