The special PMLA court in Mumbai on Wednesday extended disgraced former Enforcement Directorate (ED) official Sachin Sawant’s remand for six days, till July 11, for further investigation into a money laundering case.
The ED arrested the Additional Director of Customs & GST, Sawant, in an alleged money laundering case pertaining to the illicit diversion and transfer of more than ₹500 crore by diamond traders.
Sachin Sawant under scrutiny
Sawant previously served as deputy director in the ED’s Mumbai Zone 2. He is facing scrutiny for cash deposits of Rs1.25 crore made from unexplained sources in the personal bank accounts of family members and in the bank account of dummy company in which his father and brother-in-law were directors.
He was produced before Additional Sessions Judge MG Deshpande in the Special Court of the Enforcement Directorate for further custodial remand.
Sawant fails to explain ₹70 lakh deposit in father's account
According to the ED remand application, 2008 IRS Sawant failed to explain the Rs70 lakh amount credited to his retired police driver father Balasaheb Sawant. He also failed to provide details of income source of his wife, brother and sister-in-law, driver and close friends under scrutiny for unusual deposits in their bank accounts.
Corrupt money laundered into family members' accounts
The agency suspects corrupt money was laundered and diverted into the accounts of his family members and friends.
The agency opened the investigation on the basis of an FIR registered for corruption and disproportionate assets by the CBI, ACB, Mumbai. The ED had alleged that Sawant amassed assets disproportionate to his known and legal sources of income. The probe revealed investments into immovable properties purchased in the name of a dummy company and the source of funds was shown as personal loans and other bank loans whose repayments were also made in cash. The flat is in the name of the dummy company but Sawant was occupying the said flat as its real owner.