11-08-2005, 04:42 AM
ED may arrest Andy
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Andaleeb Sehgal, the friend and associate of Jagat Singh (Nutwar's son)</b>, the Congress legislator from Rajasthan, is likely to be arrested by the Enforcement Directorate (ED) for violating various sections of the Foreign Exchange Maintenance Act (FEMA) and the Money Laundering Act. Sehgal and his firm Hamdan Exports are named in a UN report by former US Federal Reserve chief Paul Volcker as having paid $748,540 (Rs 30 million) into a Jordanian Bank as an "illegal surcharge" for Iraqi oil, with the money eventually reaching the then Iraqi dictator Saddam Hussein.
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<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Andaleeb Sehgal, the friend and associate of Jagat Singh (Nutwar's son)</b>, the Congress legislator from Rajasthan, is likely to be arrested by the Enforcement Directorate (ED) for violating various sections of the Foreign Exchange Maintenance Act (FEMA) and the Money Laundering Act. Sehgal and his firm Hamdan Exports are named in a UN report by former US Federal Reserve chief Paul Volcker as having paid $748,540 (Rs 30 million) into a Jordanian Bank as an "illegal surcharge" for Iraqi oil, with the money eventually reaching the then Iraqi dictator Saddam Hussein.
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