A total of Rs. 1.40 crore worth of assets of Dino Morea were seized today (2nd July) in a bank loan fraud case. Assets of DJ Aqeel (son-in-law of actor-producer-director Sanjay Khan) and Irfan Siddiqui (son-in-law of late Congress leader Ahmed Patel) were also seized in the same Rs. 14,500-crore bank loan fraud case linked to Gujarat-based businessmen Sandesara brothers.
According to the Enforcement Directorate, a money-laundering investigation into the case led to the discovery of transactions between the Sandesaras and Irfan Siddiqui, Dino Morea and DJ Aqeel. The investigations revealed that DJ Aqeel had received Rs. 12.54 crore from the Sandesaras, Irfan Siddiqui got Rs. 3.51 crore, and Dino Morea, Rs. 1.40 crore. These transactions are considered proceeds of crime, the ED said, adding that assets worth Rs. 2.41 crore of Irfan Siddiqui, Rs. 1.98 crore of DJ Aqeel, and Rs. 1.40 crore of Dino Morea had been attached. Assets of Rs. 3 crore belonging to Sanjay Khan were also attached, it is reported.
The case involves a Rs. 14,500 crore bank loan fraud allegedly by Sterling Biotech and its main promoters and directors — Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara and Deepti Sandesara — all of whom are missing and are said to be settled in Nigeria.