The Directorate of Enforcement (ED) arrested Sachin Balasaheb Sawant, Additional Commissioner of Customs, IRS (Customs & Central Excise: 2008) on 27.06.2023 in the ongoing investigation conducted under the provisions of the Prevention of Money Laundering Act, 2002.
ED had initiated an investigation based on a First Information Report (FIR) registered under the Prevention of Corruption Act, 1988 by the Central Bureau of Investigation(CBI), ACB, Mumbai. It was alleged that during the check period, Sachin Balasaheb Sawant has amassed assets disproportionate to his known and legal sources of income.
It was revealed that cash deposits of around Rs. 1.25 Crore were made from unexplained sources in the personal bank accounts of family members of Sachin Balasaheb Sawant and in the bank account of a dummy company wherein his father and brother-in-law were directors.
It has been found that immovable property was purchased in the name of said dummy company. The source for the purchase of the said property was shown as personal loans and other bank loans whose repayments were also made in cash. Although, the flat is in the name of a dummy company Sachin Sawant was occupying the said flat as its real owner.
In order to identify the proceeds of the crime, Sachin Balasaheb Sawant has been arrested by ED on 27.06.2023. Further, he was produced before the Designated Special PMLA Court, Mumbai, which granted the custody of Sachin Balasaheb Sawant till 05.07.2023 to ED.
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