The Enforcement Directorate (ED) found Rs 2.5 crore hidden in a washing machine during raids on offices of Capricornian Shipping & Logistics Pvt Ltd in Delhi, Hyderabad, Mumbai, Kurukshetra, and Kolkata. The raids were conducted under FEMA,1999.
The ED started an investigation after receiving information about certain entities transferring a large amount of foreign exchange out of India. Suspicious outward remittances totaling Rs 1,800 crore were sent to Galaxy Shipping & Logistics Pvt Ltd and Horizon Shipping & Logistics Pte Ltd in Singapore, both overseen by Anthony De Silva.
Capricornian Shipping & Logistics Pvt Ltd, along with Laxmiton Maritime and their associates, were found to have sent the money to Singapore through fake freight services and imports. They used shell companies like Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, HMS Metals, among others, to conceal the transactions.
During the searches, the ED found incriminating documents, digital devices, and Rs 2.54 crore in unexplained cash. They also froze 47 bank accounts linked to the case.
