Chartered Accountant Uses Client's Account To Turn Black Money Into White

Nagpur, Maharashtra, July 27, 2023 

The police said the director had given Sagdeo blank cheques in connection with his company's work. 

The Nagpur police have registered a case against a chartered accountant for allegedly misusing his client's bank account to turn nearly ₹ 4 crore of black money into white, an official said on Thursday.

The case against CA Anoop Charudutt Sagdeo (50) came on a complaint by the director of a logistics company.

The police said the director had given Sagdeo blank cheques in connection with his company's work.

However, Sagdeo first allegedly deposited black money of ₹ 3.99 crore into the company's account and then used the blank cheques to divert the white money to his friends and relatives.

While Sagdeo allegedly committed the crime between 2013 and 2015, it recently came to light during an audit, said the police.

He is also accused of acquiring a second PAN number under the logistics company's name and illegally using it to deceive the client.

A police source said Sagdeo apparently took a lot of money from his other clients under the guise of making investments but could not ensure good returns to them.

[NDTV / Press Trust of India]