ED Arrests Former CEO Of Food Company in Money Laundering Case In Bhopal

Bhopal (Madhya Pradesh): Directorate of Enforcement (ED), Bhopal, has arrested former CEO of M/s Jayshri Gayatri Food Products Pvt Ltd. (JGFPPL) Sunil Tripathi, under the provisions of Prevention of Money Laundering Act (PMLA). His arrest follows ongoing money laundering investigation relating to the company and others, ED officials said. On March 13, ED had arrested Kishan Modi, managing director of M/s JGFPPL, under the provisions of PMLA, who is presently under judicial custody.

The accused Sunil was produced before the Special Court, Bhopal, and the Court has granted custody of the accused to ED till April 28 for further investigation. Officials said that Sunil did not cooperate in the ED investigation and deliberately evaded multiple email communications and summonses issued by ED.

A search was conducted on his premises in Vadodara, Gujarat, on April 1, wherein several incriminating documents and devices were seized and account having Rs 9.36 lakh was frozen. The ED initiated money laundering investigation on the basis of FIRs registered by Habibganj police station and EOW, Bhopal.

Fabricated lab report used to sell products abroad

Investigation has revealed that Sunil played a key role in preparation of forged documents, supervision of export operations and generation of proceeds of crime.

Investigation has also revealed that M/s JGFPPL was involved in large-scale adulteration of dairy products and export of such products on the basis of forged laboratory reports submitted to Export Inspection Agency (EIA), Indore, for obtaining export clearances.

Power of forged documents

On the basis of forged documents, the company exported adulterated products and generated proceeds of crime worth Rs 20.59 crore, which were routed through its bank accounts. ED has also issued a Provisional Attachment Order attaching properties worth Rs 20.59 crore belonging to Kishan Modi and others.

Further ED investigation is underway to trace money trail and ascertain involvement of other persons/entities in money laundering.