New Delhi, Jul 17 (PTI) The Enforcement Directorate on Saturday said it has arrested an Indian-origin Dutch national from the Indira Gandhi International Airport here in connection with a money-laundering probe initiated against him on the Netherlands government's request.
Originally from Phagwara in Punjab, the accused, Shivlal Pabbi, had migrated to the Netherlands in 1981. He was trying to flee to Paris when he was arrested, the central probe agency said.
Pabbi was later produced before a special Prevention of Money Laundering Act (PMLA) court in Mohali that remanded him to Enforcement Directorate custody till July 23, it said.
The ED alleged, 'Pabbi, who became a Dutch national in 1984, committed cheating and forgery in the Netherlands through fraudulent documents prepared in connivance with his Indian associates.' 'He ran a hawala or banking without a permit in the Netherlands under the garb of trading in readymade garments.' The proceeds of the crime generated by Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to him and his brother's NRE (non-resident external) accounts in Phagwara, it claimed.
This money was 'invested in the development and construction of Mayfair Resorts and Cabbana Resort and Spa situated in Phagwara on the Jalandhar-Ludhiana highway', the ED said.
It stated that Cabbana Resort and Spa, spread over several acres, is a renowned venue known mainly for hosting luxurious weddings and corporate events.
'The Enforcement Directorate initiated money laundering investigation against Pabbi and others at the request of the Netherlands government,' the official statement said. PTI NES NSD NSD