A special Prevention of Money Laundering Act (PMLA) court in Panchkula on Monday remanded former bank employees Rishav Rishi and Abhay Kumar to a 10-day custody of the Enforcement Directorate (ED). The two are the alleged prime accused in a staggering Rs 590 crore bank scam involving government funds.
Rishav and Abhay were produced before the court of special judge Vijayant Sehgal on production warrants. During the proceedings, the ED prosecutor informed the court that the investigation had unearthed additional facts regarding the layers of money laundering allegedly executed by the duo in collusion with certain government officials and private individuals.
The prosecutor detailed how the two allegedly siphoned government funds and diverted the money into their personal accounts. He specifically elaborated on the diversion of Rs 400 crore from a government department account by using the identities of a personal assistant, a driver, and the driver's wife.
The federal agency also presented records that established the alleged diversion of funds and documents of those who assisted in opening shell companies. A scrutiny of the shell companies' documents revealed that the mobile numbers used for bank operations were largely those of Rishav and Abhay, the ED stated.
Abhay's wife, Swati Singla, and her brother, Abhishek Singla, were owners of one of the companies where the funds were diverted. They are also in police custody, the agency added.
Opposing the ED's request for custody, defense counsel Yavnee Dhakla asserted that there was no need for custodial interrogation, as the agency had already questioned the accused in Ambala jail for three days last month. He referred to records submitted by Haryana's state agency to support his argument that further custody was unnecessary.
However, the court acceded to the ED's request and ordered a 10-day remand for the two accused. The court also directed the agency to allow the accused to meet their defense lawyers for one hour every day during the custody period.
