Money laundering case: ED arrests actor Sachin Joshi

The Enforcement Directorate (ED), on Sunday, arrested actor and businessman Sachin Joshi in connection with a money laundering case. The arrest comes a day after the agency questioned him. The arrest was done in connection with the Omkar group probed under the provisions of Prevention of Money Laundering Act, 2002 (PMLA). Joshi from JMJ group had come to the limelight in 2017 when he had purchased businessman Vijay Mallya’s Kingfisher Villa in Goa. Sources said that Joshi has been under scanner for allegedly laundering several crore of rupees. The agency has now launched a probe to trace the money trail. The Income Tax department has also conducted searches in this regard.

To recall, the ED arrested Babulal Varma and Kamal Kishore Gupta, promoters of M/s Omkar Group, under the provisions of the PMLA. The anti-money laundering agency has initiated investigation on the basis of an FIR registered by Aurangabad police, Maharashtra, under Sections 34, 406 and 420 of the Indian Penal Code against promoters of Omkar Group. According to the FIR, Omkar Realtors and Developers Private Limited and its directors bought a firm M/s Surana Construction, which had SRA rights for redevelopment of Anand Nagar SRA Cooperative Housing Society, Wadala, Mumbai. However, M/s Omkar and its promoters did not pay back the amount due to the seller and also mortgaged future FSI of the said SRA project.