Money laundering
AFA defends exclusive contract and 30% commission to Faroni's firm amid laundering probe
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Following raids on its facilities and Javier Faroni's home, the Argentine Football Association defended its 2021 exclusive deal granting Faroni's company a 30% commission on overseas contracts until 2026, accusing former partners of a destabilization campaign.
The Enforcement Directorate (ED) on Monday facilitated the transfer of 455 immovable properties worth about Rs 15,582 crore to the Justice RM Lodha Committee in the Pearls Agrotech Corporation Limited (PACL) financial fraud case. The agency carried out the transfer under the Prevention of Money Laundering Act (PMLA), 2002, to enable compensation for lakhs of investors affected by the alleged fraud. Attachments in the case have now reached Rs 27,030 crore.
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Singer Gims was placed under formal investigation on Friday evening for organised money laundering, following his arrest on March 25 at Roissy-Charles-de-Gaulle airport. He was placed under judicial supervision and denies any knowledge of fraudulent activities linked to his Marrakech property project.