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Rickshaw pullers, slum dwellers as directors of companies

Initial investigations into the Rs 6000 crore foreign exchange scam in Bank of Baroda has revealed that people like vegetable sellers, drivers, household workers and rickshaw pullers have been made directors in fictitions firms which were used by the fraudsters to move funds to Hong Kong. These people, whose voters’ ID cards were obtained by the fraudsters to make PAN cards and then open bank accounts and float the fictitious companies, were offered monthly payments in the range of Rs 10,000. In all there were 50 companies that were floated, which in turn opened forex accounts in Bank of Baroda to siphon off funds in the money laudering scam. According to sources in CBI and Enforcement Directorate, which are probing the money laundering scandal, several low-income citizens were used by the exporters/importers to send their ill-gotten money to the foreign countries. The investigating agencies have identified the businessmen as Gurcharan Singh, Chandan Bhatia and Sanjay Aggarwal among others as the perpetrators of the crime. The authorities have also identified Bank of Baroda Ashok Vihar branch’s two officials – S.K. Garg, an assistant general manager, and Jainish Dubey, head of foreign exchange division, as partners in the crime. The authorities said the names of directors and partners in various companies appeared to be the same and the registered addresses were fake. Shell companies were opened in Hong Kong. Imports of dry fruits, pulses and rice were shown as businesses of these 59 companies

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