NEW DELHI: Ratul Puri, nephew of Madhya Pradesh chief minister
, led a lavish lifestyle and spent over $1.1 million in a single night at a US nightclub, says the chargesheet filed by
(ED) in a
Besides Puri, the chargesheet names his associates and Moser Bear India (Private) limited, where he was the executive director.
“The verification of the transactions was done and it was seen that the same was utilised for lavish stays in various hotels in India and abroad and $11,43,980 was spent in a single night at a night club called Provocateur,” says the ED chargesheet.
The agency also claimed that between November 2011 and October 2016, Puri’s total personal expenses were to the tune of $4.5 million.
The chargesheet estimates the extent of money allegedly laundered by Puri to be close to Rs 8,000 crore, higher than the amount initially stated. The ED also claimed that MBIL used a “complex structure” of companies to siphon off funds taken on loan from banks. The ED highlighted the creation of “shell companies” for laundering of funds. The chargesheet lists out a dozen subsidiaries where funds were diverted.
“Over the years, MBIL has invested an amount of Rs 800,20,96,683 in its subsidiaries and associate companies,” says the 110-page chargesheet filed in a Delhi court on Thursday.
and its directors and promoters have been accused of misusing and misappropriating money released by banks and other financial institutions to the company for business purposes.
Puri has been charged with laundering the money through various subsidiaries incorporated, maintained and controlled by him. Puri, who is also an accused in the
, was arrested on August 20 in the money laundering case against him. He remains in judicial custody.