Insta
Zakir Naik Allegedly Laundered Rs 100 Crore Through His Family And NGO
Swarajya Staff
Nov 23, 2016, 10:35 AM | Updated 10:35 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The Enforcement Directorate (ED) is investigating a layering of funds amounting to Rs 47.69 crore received by televangelist Naik through banking channels and Rs 64 crore received as donations.
Sources believe that the money, received through banking channels, has travelled through a series of accounts maintained by Naik's family members. In the case of donations received by IRF, the donors were mentioned just as "well-wishers.
A financial investigation discovered that the Rs 47.69 crore, declared as proceeds of Gulf investments, were remitted from Naik's Dubai bank account to his Union Bank of India account and relatives' accounts. The money was then transferred to four separate firms which do not have any employees.
From 2003 till this year, IRF received around Rs 64 crore as donations with 36 per cent coming from overseas. Though many transactions were done through banking channels, names of donors were mentioned as "well-wishers". A senior official on the matter said-
In case of donations, only names of donors are mentioned on receipts without their contact details. This might be a case of money laundering…
ED is exploring the likelihood of invoking the Prevention of Money Laundering Act (PMLA) against Naik. ED can register a case under PMLA if there is already a schedule offence like forgery or cheating registered against the suspect.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.