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Rs.1,600 crore money laundering case – prime accused Mahesh arrested
Sunday, May 14, 2017
Visakhapatnam
The Visakhapatnam police today has arrested Vaddi Mahesh, the prime accused in the Rs.1,600 crore money laundering case and would be prosed before court on Monday.
ACP (Dwarakanagar zone) P.Ramachandra Rao said that the case was being transferred to AP CID as the investigation had to be conducted not only in other parts of the country but also abroad. He said that Mahesh was the first among the nine accused to be arrested and the hunt was on for the rest.
The shell companies identified as Padmapriya Stone Crushing Pvt.Limited and balmukunda Warehouses in Visakhapatnam, and lavender Esystem, Wormwoods Technologies, Serikos Exports, Shivkripa Tradelinks Foxgivove Technologies, Cloudberry Soft Solutions, Merac Esystem, Kaustav Export Import ad Delphinium Esystem. All the companies were private limited shell firms based in Kolkata.
Police sources said that Mahesh a native of West Godavari was living in Kolkata and had shifted his base to the city in mid 2015. Post demonetization, he had opened 12 shell companies including two I the city and 10 in Kolkata and operated about 30 bank accounts including 22 in Visakhapatnam in the name of fictitious companies.
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- May 14, 2017