ED Presses Charges Against P Chidambaram in Money Laundering Cases

The Enforcement Directorate (ED) has taken concrete legal steps in an ongoing high-profile money laundering investigation involving former Union Finance Minister P Chidambaram. The agency has presented a prosecution sanction it received from the competent authority, thus seeking to expedite the judicial process in the Aircel Maxis and INX Media cases. This sanction puts P Chidambaram directly in the crosshairs as his alleged wrongdoings come under scrutiny in New Delhi's Rouse Avenue Special Court.

The ED has been diligently following leads under the Prevention of Money Laundering Act (PMLA), 2002, based on a First Information Report against Chidambaram filed back in 2011 concerning the Aircel Maxis deal. The accusations include illicit approvals by Chidambaram during his tenure, which the ED claims were part of a quid pro quo arrangement benefiting his son Karti Chidambaram's companies.

The investigation further exposes the depth and complexity of financial transactions rooted in these cases. In reference to the INX Media, evidence suggests manipulated FIPB approvals granted during Chidambaram's ministerial tenure were in exchange for illegal gratifications. The intricate network involved Karti Chidambaram and was structured to disguise the flow of criminal proceeds, now quantified at approximately Rs 65.88 crore, found invested in various shell companies.