ED sends LR to Jordan in probe against 2 Mumbai export companies

NEW DELHI: The Enforcement Directorate (ED) has sent a Letters Rogatory (LR) to Jordan seeking transaction details related to its money-laundering probe against

Published on: Jun 5, 2016, 07:51:57 IST

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NEW DELHI: The Enforcement Directorate (ED) has sent a Letters Rogatory (LR) to Jordan seeking transaction details related to its money-laundering probe against two Mumbai jewellery export firms’ alleged default on loans worth Rs 1,658.08 crore by Punjab National Bank.

According to an ED source, the accused firm, Winsome Diamonds & Jewellery Ltd (WDJL), with an associate firm, had allegedly availed of the loan for the “purchase of gold and diamonds from bullion banks” and using it to “export diamond and gold jewellery to 13 foreign companies in UAE”. The 13 firms were allegedly represented by Haytham Salman Ali, a Jordanian national.

“The two accused firms claimed that the 13 UAE firms controlled by the Jordanian national failed to remit money to pay for the exports, as a result of which they could not pay back the bullion banks, then the default on the PNB loan occurred,” said the source. The LR — a formal request sent to foreign authorities via courts — has sought details from Jordanian authorities related to the accused firms’ transactions with the 13 UAE firm via their representative Ali, said the source.

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