https://www.taxtmi.com/news?id=35774 Enforcement action under anti-money laundering law led to the arrest and judicial remand of company promoters after detention on a Look Out Circular; the agency alleges the CEO masterminded a sale-and-leaseback scheme that was substantively non-existent and overstated to defraud investors, generating proceeds of crime later diverted for personal enrichment, luxury purchases, commissions, routing through shell entities, real estate investments, and transfers into the promoter's spouse's accounts and related companies not connected to the underlying business. en-us Sat, 01 Mar 2025 21:01:03 +0530 Sat, 01 Mar 2025 21:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=35774 Enforcement action under anti-money laundering law led to the arrest and judicial remand of company promoters after detention on a Look Out Circular; the agency alleges the CEO masterminded a sale-and-leaseback scheme that was substantively non-existent and overstated to defraud investors, generating proceeds of crime later diverted for personal enrichment, luxury purchases, commissions, routing through shell entities, real estate investments, and transfers into the promoter's spouse's accounts and related companies not connected to the underlying business. News - Sat, 01 Mar 2025 21:01:03 +0530 https://www.taxtmi.com/news?id=35774