AHMEDABAD: Surat-based financier Kishore Bhajiawala, from whom the income tax (I-T) department recovered Rs 10.45 crore in unaccounted for income, used dummy bank accounts to launder black money. Bhajiawala also held property worth Rs 400 crore. He had used around 700 persons for depositing and withdrawing money after demonetisation+ , CBI sources said.
Sources in the I-T department said that Bhajiawala had 27 bank accounts+ of which around 20 were benami accounts through which he laundered a large chunk of money. However, it has not yet been ascertained how much money he has deposited and withdrawn.
The I-T department has seized from him Rs 1,45,50,800 (all in new currency notes), gold worth Rs 1,48,88,133, gold jewellery worth Rs 4,92,96,314, diamond jewellery worth Rs 1,39,34,580, and silver ingots worth Rs 77,81,800. Sensing the involvement of banks and bigwigs, the case was handed over to the CBI.