ED arrests Phagwara-origin Dutch national from IGI airport in money laundering case
Tribune News Service
New Delhi, July 17
The Enforcement Directorate on Saturday said its personnel have arrested a Dutch national of Indian origin on his arrival at the Indira Gandhi International (IGI) Airport here in connection with a money-laundering case, which was initiated following a request from the Netherlands government.
Shivlal Pabbi, originally from Phagwara in Punjab, had migrated to the Netherlands in 1981. He was trying to flee to Paris when he was arrested, the ED said in an official statement.
Pabbi was later produced before a special Prevention of Money Laundering Act (PMLA) court in Mohali that remanded him to the ED custody till July 23, the agency informed.
The ED alleged, “Pabbi, who became a Dutch national in 1984, committed cheating and forgery in the Netherlands through fraudulent documents prepared in connivance with his Indian associates.”
“Pabbi ran an underground banking /banking without permit/hawala business in the Netherlands under the garb of trading in readymade garments. The proceeds of crime generated by him were laundered through Pakistani individuals based in Dubai, who transferred the money to him and his brother’s NRE accounts in Phagwara,” the ED alleged.
The proceeds of crime were invested in the development and construction of Mayfair Resorts and Cabbana Resort and Spa situated in Phagwara on the Jalandhar-Ludhiana highway, the ED said, adding that the facility, spread over several acres, is a renowned venue known mainly for hosting luxurious weddings, corporate events and other events.
