NEW DELHI: According to authorities, the CBI is investigating into the connections of certain suspects with the mafia, particularly Pakistan-based mobster Chota Shakeel, as part of its investigation into the largest financial fraud scam the nation has ever seen, which DHFL is accused of perpetrating.
According to them, the primary investigation agency has discovered evidence that public monies were improperly used to pay individuals reportedly connected to Shakeel.
The officials noted that this issue needs more investigation and would be pursued at the appropriate time.
The Central Bureau of Investigation (CBI) conducted searches at three sites in Mumbai and Pune on Friday as part of its investigation into the DHFL fraud. From these searches, it retrieved artwork and sculptures valued more than 40 crore rupees, they said.
The CBI discovered a massive collection of ultra-luxury timepieces worth crores of rupees during the searches at the premises of Ajay Ramesh Nawandar in Mumbai, according to the officials. The watches included Rolex Oyster Perpetual, Cartier, Omega, and Hublot Michael Kors.
Additionally, the agents searched Rebecca Dewan’s apartments in Mumbai’s Khar West neighbourhood. It is alleged that Kapil Wadhawan of Dewan Housing Finance Limited paid 8 crore for the apartments (DHFL).
To trace the money trail of the monies diverted by DHFL’s Kapil and Dheeraj Wadhawan, the agency is likely to broaden its investigation into Nawandar and his business partners, they added.
“Investigation revealed that the promoters had allegedly diverted the monies and invested in a number of other businesses. Additionally, it was claimed that the promoters used the diverted monies to purchase pricey artwork worth around 55 crore, “CBI released a statement.
The CBI has filed charges against DHFL, its former CMD Kapil Wadhawan, director Dheeraj Wadhawan, and others for an alleged 34,615 crore bank fraud, making it the largest case of this kind the agency has looked into.
After the case was filed on June 20, a group of more than 50 agency employees searched 12 locations in Mumbai owned by the defendants identified in the FIR, including Sudhakar Shetty of Amaryllis Realtors and eight other builders, on June 22.
A complaint from the Union Bank of India (UBI), the head of a 17-member banking consortium that provided credit facilities to DHFL totaling Rs. 42,871 crore between 2010 and 2018, prompted the CBI to take action.
The bank claims that Kapil and Dheeraj Wadhawan defrauded the consortium out of 34,614 crore by missing loan payments starting in May 2019 through the use of public funds. The bank claims that the two men engaged in a criminal conspiracy with others in which they misrepresented and concealed facts, violated public trust, and committed criminal breach of trust.
According to an assessment of DHFL’s financial records, the business used taxpayer cash to “create assets for Kapil and Dheeraj Wadhawan” by engaging in financial fraud, misappropriating funds, fabricating books, and round-tripping monies.