The Hon’ble Special Court of PMLA, Bhopal (Madhya Pradesh) has convicted Harishankar Gurjar and his wife on 29th April 2023, for their involvement in a money laundering case. They were sentenced to undergo rigorous imprisonment for 3 years and were also fined Rs. 50,000 each.
The Enforcement Directorate initiated an investigation into the case in 2019, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The investigation revealed that Harishankar Gurjar and his wife had laundered money to the tune of Rs. 19.75 crores, through a web of shell companies, in connivance with some bank officials.
The investigation further revealed that the accused had set up several shell companies in the name of their employees, which had no actual business operations. These companies were used to generate fake invoices and obtain bank loans on the basis of these fake invoices. The accused had then laundered the loan amount through various shell companies, by creating a web of financial transactions.
During the course of the investigation, the ED had seized several properties and assets, worth Rs. 10.87 crore, belonging to the accused. The attached assets included a hotel, a school, several plots of land, a luxurious car, and bank balances in various accounts.
The conviction of Harishankar Gurjar and his wife is a significant step towards ensuring that those involved in money laundering and financial fraud are brought to justice. It sends out a strong message to those who engage in such illegal activities, that the law will catch up with them sooner or later. The ED deserves credit for its meticulous investigation, which has resulted in the conviction of the accused. The decision of the Hon’ble Special Court of PMLA, Bhopal is a reminder that no one is above the law and that the justice system will ensure that the guilty are punished.
