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Christian Michel floated shell companies to hide bribe money

he Central Bureau of Investigation (CBI) is confronting AgustaWestland chopper deal accused Christian Michel on the basis of statement given by his close associate RK Nanda and many documents collected during the investigation. As of now it has been established that Michel transferred bribe money to RK Nanda, a travel businessman based in Connaught Place, to invest in a shell company started in 2005.

The CBI has also recovered documents of his close associate and Mumbai-based partner JB Balasubramanian, who floated a shell company on the instruction of Michel to park illegal money, and later on, properties were purchased in the name of that company.

The amount was later shifted from the Indian shell company to Michel’s Dubai based company.

As per CBI sources, Michel and Nanda invested in real estate in Delhi and bought three properties, including a farmhouse in Chhattarpur in the name of the shell company. Later, they sold off two of the three properties in 2011-12. CBI will also question Michel’s driver, who accompanied him in India during his several visits to settle money and kickbacks.

As of now, Michel is being confronted with records of money trail through different means from Dubai to India. His email and password has also been recovered by the CBI. CBI sources suggest that Michel deleted most of the email communication during the period of defence deal. The investigation agency is also taking help from technical experts to retrieve the deleted material from Michel’s email account. It also says that there are many more who benefitted from kickbacks from Michel to play some or the other role in Rs 3,600 crorechopper deal. The CBI is planning to summon them in order to confront Michel.

Michel will be produced in CBI court on Monday. The agency will seek his further custodial remand to confront him with other suspects in the deal and also to recover important electronic evidence and documents to nail him in one of the biggest defence deal scam.

[“source=gsmarena”]