Ghaziabad faux embassy: In response to the STF, Harshvardhan Jain was launched to a number of high-profile people by way of a infamous self-styled godman named Chandraswami. These included Dubai-based arms seller and a Hyderabad native.
The Uttar Pradesh Particular Process Pressure (UP STF) has made a big breakthrough within the Ghaziabad faux embassy case, uncovering a high-profile worldwide hawala racket throughout its investigation. The accused, Harshvardhan Jain, has revealed essential particulars throughout interrogation and scrutiny of seized paperwork.
In response to the STF, Harshvardhan Jain was launched to a number of high-profile people by way of a infamous self-styled godman named Chandraswami. These included Dubai-based arms seller Adnan Khashoggi and Hyderabad native Ehsaan Ali Syed, who at the moment holds Turkish citizenship.
Ehsaan Ali, working by way of a Switzerland and Bahrain-based agency known as Western Advisory Group, is accused of large-scale brokerage and mortgage fraud actions.
Corporations throughout a number of nations concerned
The investigation revealed that Harshvardhan Jain had established a number of firms in numerous nations:
- UK: State Buying and selling Company Ltd and East India Firm UK Ltd
- UAE: Island Basic Buying and selling Firm LLC
- Mauritius: Indira Abroad Ltd
- Cameroon (Africa): Cameroon Ispat SARL
These firms are suspected of getting been used to facilitate fraudulent monetary actions.
Worldwide financial institution accounts
The STF has additionally uncovered a fancy internet of financial institution accounts held by Harshvardhan Jain:
- 6 accounts in Dubai
- 1 account in Mauritius
- 3 accounts within the UK
- 1 account in India
As well as, Jain was present in possession of two PAN playing cards, which had been reportedly used to open a number of home and worldwide financial institution accounts. The legality of those accounts is at the moment underneath detailed investigation.
Ehsaan Ali Syed’s felony historical past
Between 2008 and 2011, Ehsaan Ali’s agency Western Advisory Group collected roughly GBP 25 million in commissions for allegedly facilitating loans value GBP 70 million from Swiss-based firms. After defrauding these companies, he fled the nation.
On 22 November 2022, Ehsaan was arrested by London police on the request of Swiss authorities. In July 2023, the Westminster Courtroom accepted his extradition to Switzerland, the place the Zurich Courtroom later sentenced him to 6 and a half years in jail.
Chandraswami’s position and the London connection
Investigators have realized that Chandraswami performed a key position in connecting Harshvardhan Jain with Ehsaan Ali. He reportedly despatched Jain to London, the place the 2 collaborated to kind a number of shell firms, which had been then used to execute high-value brokerage schemes and fraud. This modus operandi seems to have been constant in a number of jurisdictions.The STF believes that extra outstanding names may emerge because the investigation progresses. Given the dimensions of the monetary fraud and the community of worldwide actors concerned, authorities are persevering with their probe into associated accounts, firms and people suspected to be a part of this worldwide operation.