Delhi Court Grants Bail to Chinese National in Rs 1,000 Cr Money Laundering Case

Cheser

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posted on 3 years ago — updated on 1 second ago

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Additional Sessions Judge Dharmender Rana granted relief to the accused Luo Sang noting that the trial was expected to consume a considerable time and that he was not a flight risk.

A Delhi court on Friday granted bail to a Chinese national arrested in a Rs 1,000 crore money laundering case, while directing him that he will drop a pin on the google map to ensure that his location is available to the investigating agency. Additional Sessions Judge Dharmender Rana granted relief to the accused Luo Sang – noting that the trial was expected to consume a considerable time and that he was not a flight risk.

The judge also directed that the accused will not leave the country without the permission of the court and will surrender his passport before it. He shall continue to cooperate with the ongoing investigation. He shall appear on every date of hearing as fixed by the court concerned. He shall not leave the country without the permission of the court. He shall drop a pin on the google map to ensure that his location is available to the investigating agency, the court directed. The court observed that the investigation conducted so far by the Enforcement Directorate (ED) did not reveal the source of proceeds of crime. Senior advocate Vikas Pahwa, while seeking bail for the accused, told the court that the ED has failed to ascertain the source of funds and whether it qualifies as proceeds of crime.

He said that the probe in the case was already complete and no purpose will be served by keeping him in further custody. Considering the period of incarceration, the fact that the accused is apparently not at flight risk coupled with the fact considering the intricate nature of investigation trial is expected to consume a considerable time, accused Luo Sang is admitted to bail, the court said.

The relief was granted on furnishing bail bond in the sum of Rs one lakh with two sureties each in the like amount. According to the ED, the accused was arrested on January 15, for alleged money laundering along with his business partner Li Zhenghua.

It said that on the basis of these false and fabricated documents, the accused incorporated M/s Sunhara Bird Pvt Ltd which he used for the purpose of the offence.

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