Rohit Tandon, a Delhi lawyer under investigation for money laundering after a huge stash of crores was found during raids in his office, has been arrested by the Enforcement Directorate.
Tandon is accused of laundering almost 70 crores of black or untaxed money since the notes ban last month. In October, he had reportedly declared an unaccounted income of 125 crores to taxmen after raids at his home and office.
After a tip-off, officials searched his office again on December 10 and found nearly 14 crores in cash, including over two crores in brand new 2,000-rupee notes. Tandon was not in at the time; he reportedly saw and tracked the raid on CCTV camera on his phone.
It took two machines to count the money, which was packed into nearly six suitcases and four steel trunks and taken away in three cars.
During questioning Tandon claimed he can account for the money and some of it belongs to clients.
The lawyer is a key link in a money-laundering network that has surfaced with a series of arrests over the past few days. He allegedly has close links with Parasmal Lodha, a Kolkata-based businessman arrested earlier for money-laundering.
Lodha, a realtor, is said to have helped the lawyer convert Rs. 2.62 crore in banned notes. Both are connected to a third arrested businessman, Chennai-based J Sekhar Reddy.
A manager of the Kotak Mahindra Bank was also arrested yesterday in Delhi for allegedly helping both Tandon and Reddy convert over 25 crores in old notes.