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    Sterling Biotech bank fraud case: Dino Morea and DJ Aqeel fail to appear before ED

    Synopsis

    The duo's statements were to be recorded under the Prevention of Money Laundering Act.

    ​The ED reportedly got evidence that Dino Morea (L) and DJ Aqeel​ (R) were paid money by the pharmaceutical group.​Agencies
    The ED reportedly got evidence that Dino Morea (L) and DJ Aqeel (R) were paid money by the pharmaceutical group.
    NEW DELHI: Bollywood actor Dino Morea and popular disc jockey, DJ Aqeel, failed to appear in front of the Enforcement Directorate (ED) on Monday. The duo had been summoned in the Rs 8,100 crore bank fraud and money-laundering case of Sterling Biotech, a senior official confirmed to a news agency.

    Last week, the ED had summoned them after they found evidence that the two were paid money by the Gujarat-based pharmaceutical group - run by Chetan Jayantilal Sandesara, Nitin Jayantilal Sandesara and Deepti Sandesara - in the past for performing in the state.

    Both were expected to record their statements pertaining to payments received under the Prevention of Money Laundering Act (PMLA), but did a no-show.

    Last week, the ED had made one of its largest PMLA attachments and frozen assets worth 9,778 crore of the pharma group in India and abroad. The agency had registered a money-laundering case against the Sanderasa family members and others in August 2017, after a case of alleged bank fraud of Rs 5,700 crore was filed against them by the Central Bureau of Investigation.

    ED's investigation revealed that the Sandesaras and others had hatched a criminal conspiracy to cheat banks by manipulating figures in the balance-sheets of their flagship companies, and induce banks to sanction higher loans.
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    ​Nitin Sandesara, chairman of Sandesara Group, in his private jet.​
    Nitin Sandesara, chairman of Sandesara Group, in his private jet.

    While Morea, also a model, has worked in a number of Hindi films, Aqeel, who's married Farah Ali Khan in 2004 - the eldest daughter of Bollywood actor and director Sanjay Khan - is a popular DJ.

    According to the ED officials, after obtaining loans, the accused diverted them to non-mandated purposes through a web of shell companies. Thus, the loan funds were diverted, layered and laundered by the promoters for personal purposes. The Sandesaras are also under probe for their alleged nexus with some high-profile politicians by the ED as also by the CBI and the Income Tax Department under criminal sections that deal with corruption and tax evasion respectively.

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