A special Prevention of Money Laundering Act (PMLA) court on Wednesday remanded Additional Commissioner of Customs, IRS (Customs & Central Excise: 2008), Sachin Sawant in the custody of the Enforcement Directorate (ED) till July 5.
Mr. Sawant was arrested on June 27 by the ED on the allegations of amassing assets disproportionate to his known sources of income. The Central agency initiated the investigation based on the First Information Report (FIR) filed by the Central Bureau of Investigation under the Prevention of Corruption Act.
A press release by the ED alleged, “Cash deposits of around ₹1.25 crore were made from unexplained sources into the personal bank accounts of family members of Mr. Sawant and in the bank account of a dummy company wherein his father and brother-in-law were directors. It has been found that immovable property was purchased in the name of the said dummy company and the source for purchase of the said property was shown as personal loans and other bank loans whose repayments were also made in cash. Although, the flat is in the name of dummy company, Mr. Sawant was occupying the said flat as its real owner.”
