With ED attaching close to Rs.10,000 cr assets of Sandesara Group, linked with Ahmed Patel, new avenues of parking illegal money emerge

The Enforcement Directorate (ED) has attached Congress Treasurer Ahmed Patel linked Sterling Biotech – Sandesara Group’s assets worth over Rs.9,800 crores in connection with money laundering and bank loan frauds. The ED on Wednesday attached the overseas assets of the fugitive owners four oil rigs in Nigeria, two ships registered in Panama, Gulfstream luxury aircraft registered in the USA and a residential flat in London.

The Gujarat based firm caught for the massive bribing of IAS, IPS, and Income Tax officers in Gujarat and Mumbai and was so close with Ahmed Patel’s family members like his son Faisal Patel and son-in-law Irfan Siddiqui. Many witnesses have deposed about money handing over to Ahmed Patel’s Delhi home and his close associate Gagan Dhawan[1].

The Central Bureau of Investigation (CBI) and ED also booked Sandesara Group for cheating Andhra Bank-led 20-bank consortium of more than Rs.8000 crores. The Special Court in Delhi issued a notice to the Sterling Biotech (belong to Sandesara Group) promoters following an Enforcement Directorate’s plea to declare them fugitive economic offenders in connection with the bank fraud case. Nitin Sandesara, Chetan Sandesara, Dipti Sandesara, Hitesh Patel are the fugitive promoters of this controversial firm.

Controversial police officer Rakesh Asthana was also caught for accepting Rs.3.5 crores bribes from Sandesara Group close to Ahmed Patel. At that time Rakesh Asthana was Surat Police Commissioner[2].

References:

[1] Ahmed Patel directly received money from Sterling – Sandesara Group, confesses the accused hawala operator Johny – Aug 5, 2018, PGurus.com

[2] Prashant Bhushan accuses CBI officer Rakesh Asthana of accepting Rs.3.5 crores from Sterling Biotech – Nov 7, 2017, PGurus.com