Dutch national of Indian origin held on money-laundering charge
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He ran ‘hawala’ operations in the garb of ready-made garments trade in the Netherlands.
The Enforcement Directorate on Saturday arrested Shivlal Pabbi, a Dutch national who allegedly ran ‘hawala’ operations in the garb of ready-made garments trade in the Netherlands. The accused got the proceeds of the crime laundered via some Pakistan nationals based in Dubai.
Mr. Pabbi was allegedly trying to flee the country by a flight to Paris when the agency arrested him at the Indira Gandhi International Airport in Delhi on money-laundering charge. He was produced before a special court that sent him to the ED custody till July 23.
Originally from Phagwara in Punjab, the accused had migrated to the Netherlands in 1981. He became a Dutch national in 1984. The ED initiated the money-laundering probe against him and others on the request of the Netherlands government. He had allegedly committed cheating and forgery there in connivance with his Indian associates.
Mr. Pabbi allegedly ran an underground banking operation (hawala). “The proceeds of crime generated by Shivlal Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to his and his brother’s NRE (Non-Resident External) accounts in Phagwara,” said the agency.
The funds so transferred were invested in the development and construction of Mayfair Resorts and Cabbana Resort & Spa in Phagwara on the Jalandhar-Ludhiana highway. “Cabbana Resort & Spa, spread over several acres, is a renowned venue known mainly for hosting luxurious weddings, corporate events, etc.,” the ED said.
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