The court on Monday extended Pune businessman Avinash Bhosale’s judical custody till July 21, after the Enforcement Directorate (ED) alleged he wasn’t cooperating in the probe.
The ED produced Bhosale in court and informed that since he is an influential person, he may hamper the ongoing investigation if released from custody.
The ED informed the court that “many facts pertaining to diversion of huge part of the funds to the accused person and to his entities are yet to be traced/ascertained. He has not provided satisfactory answers regarding receipt of huge amounts of funds to the tune of Rs 431 crore from Radius Group Entities. He has also not provided satisfactory answers regarding receipt funds of Rs 66.5 crore from DHFL. He has not yet provided the required information regarding the laundering of proceeds of crime.”
Earlier, the CBI had arrested Bhosale in a cheating case and he was in judicial custody. Later, the ED took his custody from the CBI last month and arrested him in the money laundering case.