The Punjab Vigilance Bureau has written to the Enforcement Directorate (ED), seeking an investigation into an alleged Rs 736.96-crore money laundering case involving Shiromani Akali Dal (SAD) leader Bikram Singh Majithia.
According to an official statement, the Vigilance Bureau's investigation uncovered an extensive financial network allegedly used to generate, route, layer and conceal unaccounted wealth through family members, close associates, multiple companies and foreign entities.
The agency alleged that Majithia was the mastermind and primary beneficiary of the financial network, which came under scrutiny during an investigation into the alleged laundering of proceeds linked to drug trafficking.
"The investigation identifies Akali Dal leader Bikram Singh Majithia as the mastermind and primary beneficiary of the money laundering network. The probe into the drug money trail, including money claimed to have been generated through drug sales, has brought Rs 736.96 crore in proceeds of crime under scrutiny," the statement claimed.
The Vigilance Bureau said it had approached the ED to examine the alleged money laundering aspects of the case and investigate the financial transactions identified during its probe.
๐ง๐ต๐ฟ๐ฒ๐ฒ-๐๐๐ฎ๐ด๐ฒ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ป๐ฒ๐๐๐ผ๐ฟ๐ธ
According to the Vigilance Bureau, the investigation identified a three-stage process involving the generation, layering and integration of funds through domestic companies and overseas entities.
The agency claimed that money had been routed through corporate structures involving family members and close associates before being converted into various assets.
Investigators traced transactions involving companies and entities based in Cyprus and Singapore, which were allegedly used to move and conceal the funds.
The Vigilance Bureau alleged that the money was subsequently invested in properties, aircraft and other assets held in the names of family members and associates.
"The funds were converted into properties, aircraft, investments and other assets held in the names of family members and associates, while Majithia remained the primary beneficiary, according to the investigation," the statement said.
The agency maintained that the financial arrangements were designed to conceal the origin and ownership of the funds.
๐ฅ๐ ๐ณ๐ฏ๐ฒ.๐ต๐ฒ ๐ฐ๐ฟ๐ผ๐ฟ๐ฒ ๐๐ป๐ฑ๐ฒ๐ฟ ๐๐ฐ๐ฟ๐๐๐ถ๐ป๐
The Vigilance Bureau said its findings had brought transactions worth Rs 736.96 crore under scrutiny, substantially higher than the amount initially identified during the investigation.
In the FIR registered against Majithia, the agency had alleged that more than Rs 540 crore in suspected drug money had been laundered through various channels with his alleged involvement.
Following further investigation, the amount under scrutiny increased to Rs 736.96 crore.
The agency said its communication to the ED focused on the financial trail and the network of companies, individuals and transactions allegedly used to conceal the money.
The findings, according to the Vigilance Bureau, required further examination under the provisions of the Prevention of Money Laundering Act.
๐๐ต๐ฎ๐ฟ๐ด๐ฒ๐๐ต๐ฒ๐ฒ๐ ๐ณ๐ถ๐น๐ฒ๐ฑ ๐น๐ฎ๐๐ ๐บ๐ผ๐ป๐๐ต
The latest development came a month after the Punjab Vigilance Bureau filed its final chargesheet against Majithia in a disproportionate assets case.
Majithia, a senior SAD leader and former Punjab minister, is the brother-in-law of party president Sukhbir Singh Badal.
The disproportionate assets case originated from an investigation conducted by a Punjab Police Special Investigation Team into a 2021 drug-related case.
Majithia was booked under the Narcotic Drugs and Psychotropic Substances (NDPS) Act in 2021 on the basis of a 2018 report prepared by the state's anti-drug Special Task Force.
The case involved allegations concerning his links with individuals accused of involvement in drug trafficking.
Majithia had denied the allegations and challenged the proceedings against him.
๐ ๐ฎ๐ท๐ถ๐๐ต๐ถ๐ฎ ๐ต๐ฎ๐ฑ ๐ฑ๐ฒ๐ป๐ถ๐ฒ๐ฑ ๐ฐ๐ต๐ฎ๐ฟ๐ด๐ฒ๐
Following his arrest in the earlier NDPS case, Majithia spent more than five months in Patiala jail before being released in August 2022 after the Punjab and Haryana High Court granted him bail.
He had described the allegations against him as a "bundle of lies" and maintained that the case was politically motivated.
The Vigilance Bureau's latest communication to the ED marked a further development in the investigation into his alleged financial dealings.
The agency maintained that its findings pointed to a complex network of transactions involving domestic and foreign entities, with Majithia allegedly remaining the principal beneficiary.
The allegations remain subject to judicial scrutiny, and the agency's findings do not constitute a determination of guilt.