Kolkata, Dec. 3 -- The Enforcement Directorate (ED) has filed a charge sheet against the Yecnail Enterprises Pvt. Ltd. and its associates in a special PMLA court in the city in connection with a Trade-Based Money Laundering (TBML) syndicate.
The ED in the charge sheet alleged how shell importing companies fraudulently remitted overvalued import payments abroad, and laundering funds generated from offences under Sections 132 and 135 of the Customs Act.
The investigation has uncovered a sophisticated Trade-Based Money Laundering (TBML) scheme in which a syndicate was created and controlled a network of shell importing entities to fraudulently remit funds outside India.
"These dummy companies declared imports of low-value stones as high-val...