Punjab: SIT, VB probe reveal massive laundering, drug money facilitateed by Majithia
Chandigarh, June 25 -- Investigations by the Special Investigation Team (SIT) and the Vigilance Bureau (VB) have revealed massive laundering of drug money worth Rs 540 crore facilitated allegedly by former minister Bikram Singh Majithia.
Preliminary investigations revealed that more than Rs 540 crore of drug money has been laundered through several ways, including unaccounted cash worth Rs 161 crore deposited in bank accounts of companies controlled by Majithia, channelization of Rs 141 crore through suspected foreign entities, excess deposition of Rs 236 crore without disclosure/explanation in company financial statements, acquisition of movable/immovable assets by without any legitimate source of income.
A Punjab VB spokesperson stated h...
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