ED asks Indian missions to check money trail of Unitech

3rd of the investigative series

By: Ravi Sinha

The Enforcement Directorate has asked the intelligence officers in different Indian Missions to check the money trail in the 2G spectrum scam. Special Director, ED has sent out communiqués to Cyprus, Mauritius, British Virgin Islands, Jersey, Isle of Man, Singapore, Dubai, and Tripoli (Libya, Norway).

The sources have specifically been asked to check the antecedents of the money coming into Unitech Wireless under the ambit of Prevention of Money Laundering Act. Documents in possession of ED indicate that Unitech through its wholly owned subsidiaries/associates/business partners situated in various countries made several interlinked financial transactions to camouflage the real beneficiaries.

What has been prelude to letters being issued to some of these tax haven is incriminating evidence. Track2Realty has learnt that Unitech Builders and Estate, Adonis Projects, Aska Properties, Hudson Properties, Nahan Properties, Unitech Infrastructure, Volga Properties have been identified as recipient companies.

The Mission in Brussels has been told to follow Cyprus based companies which are related to Unitech – Bageris, Bolemat, Boracim, Brucosa, Comegenic, Crowbel, Firisa, Nuwell, Serveia etc. Details have been asked for on the nature of business conducted by these companies, copies of their balance sheets, names of promoters/directors and other significant details.

In Mauritius, it has been established that Burley Holdings and Fastnet Holdings are related to Unitech. Similarly, the British High Commission has been asked to look into British Virgin Islands, Isle of Man and Jersey. In British Virgin Islands, Empecom Corporation has been discovered to have a link to Unitech. In Jersey, it is Unitech Global Ltd that has been identified. In the Isle of Man, Unitech Hotels, Unitech Malls and Unitech Overseas have been identified.

In Singapore, Unitech Office Fund Trustees Ptv Ltd and Telenor Asia have to be investigated. In Dubai, Unitech Ltd has been identified and in Tripoli, Unitech Ltd Libya branch has been identified. In Norway, details about Telenor Mobile Communications have been asked for. In Mauritius, details about Idea Cellular related entities – TMI Mauritius and TMI India have been sought.