The Bombay high court on Monday said that the Enforcement Directorate, investigating the alleged multi-crore money laundering scam involving Pune-based businessman Hasan Ali Khan, should establish that the money deposited by the accused in foreign banks are “proceeds” of crime.
“He (Hasan) has amassed huge sum of money in foreign banks has been prima facie established. But are these proceeds of crime? That needs to be established by the investigating agency. There cannot be a presumption on this,” observed Justice A.M. Thipsay while hearing Khan’s bail plea.
“The money is not his. The truth is more than what is being shown to the naked eye. The whole picture needs to be seen,” the court said. Additional solicitor-general Darius Khambatta, appearing for the ED, said there are highly influential people behind Khan who need to be investigated.
Further, the ED also submitted a sealed envelope to the court, which contained the status report and also informed the court that Ali has committed at least three scheduled offences under the Prevention on Money Laundering Act.
Khan’s lawyer I.A. Bagaria, however, refuted all allegations and said that Khan had no links with international arms dealer Adnan Khashoggi and has no accounts in any foreign banks.