The Enforcement Directorate has filed a prosecution complaint against BJP leader Digambar Rohidas Agawane and eight others in a case related to loan fraud under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The complaint was filed in a special PMLA court on March 2. The court took note of the complaint on March 4.
Based on 12 FIRs registered by Maharashtra Police against Agawane and others, the Enforcement Directorate began an investigation into the case.
Details of investigation
ED investigation revealed that Digambar Agawane was involved in taking fraudulent loans by double mortgaging properties with more than one financial institution and intentionally mortgaging disputed properties with financial institutions for availing loans. He then misused these loans for his own personal gain by diverting them through various related entities. Further, he used to take loans by creating dummy directors,promising them employment and purchasing paper companies. Ultimately, he siphoned off the loan proceeds taken in the name of dummy directors for his own personal gain.
Digambar Agawane was involved in fraudulent activities, including luring investors to invest money in his companies with the promise of double returns. However, he never returned the amount to the investors. The ED found that Agawane and his associates were directors in companies such as Ayur Trading and Ayur Import Export. He was running some Ponzi schemes promising double returns. However, the investors were duped of their deposits by the accused, as only a nominal amount was returned to them.
He also used to cheat people by fraudulently executing sale deeds and illegally acquiring land from them. He would threaten them and extort money.
The Enforcement Directorate's investigation, to date, revealed that the proceeds of crime generated by the accused amounted to Rs 12.8 crore and the amount is expected to increase. Agawane was arrested on January 5 during an investigation by the Enforcement Directorate and is currently in judicial custody.
