Author: Bhavna Vij
Publication: The Indian Express
Date: July 29, 2001
URL: http://www.indian-express.com/ie20010729/top1.html
Introduction: CBI probes dubious foreign accounts
from which he 'transferred' assets to his father-in-law in the Netherlands
and allegedly re-routed the money back
The CBI has found documented evidence of dubious
foreign exchange transactions of Congress MP and former Union Minister Satish
Sharma which involve illegal foreign bank accounts and evidence of alleged
money laundering.
The agency questioned him on July 17 after
Chief Vigilance Commissoner N Vittal forwarded a letter signed by Sharma himself
which clearly establishes that he transferred ''all my trust assets'' - held
in Cayman Islands - to his father-in-law in the Netherlands.
Sources say Sharma is believed to have ''re-routed''
this money back to India when in 1996, he had to cough up Rs 50 lakh as fine
to the Supreme Court in the case of irregular allotment of petrol pumps. This
judgment was reversed on August 3, 1999 and Sharma got the money back the
same year.
But it was soon after he paid the fine that
the CBI started looking into his wealth and in March 1999, formally registered
a case of disproportionate assets against him.
Sharma had then told the CBI that he paid
the fine thanks to money from M S K Ziegers, his father-in-law. And that it
was his wife Sterre who had received the money from her father on distribution
of his trust assets.What the new evidence shows is that Sharma had transferred
his own money to Ziegers.
The letter, in possession of the CBI, a copy
of which has been obtained by The Indian Express, is signed by Sharma. Dated
October 26, 1993, when Sharma was the Minister of State (with independent
charge) for Petroleum and Natural Gas, it's addressed to Bank of America Trust
and Banking Corporation in Cayman Islands.
''This is to confirm,'' the letter states,
''that under my instructions you have transferred all my trust assets to Mr
M.S.K. Ziegers of Holland who will manage all the assets as a settlor.''
When contacted, Sharma told The Indian Express
that he had gone to the CBI ''on his own initiative.'' He refused to comment
on the letter that he signed. ''Why don't you ask the CBI about it,'' is all
that he said. His wife Sterre, too, declined to comment.
Official sources in the agency confirmed that
the signature on the letter is Sharma's. Vittal, who was the one to first
receive this letter, declined to comment saying his communication with the
CBI was ''privileged.''
Besides his father-in-law, Sharma's brother
is also under scrutiny in the disproportionate assets case. The CBI has already
found evidence of several foreign remittances and ''gifts'' that Sharma received
from his brother Girish Kumar Sharma who is based in Augusta, Georgia, in
the US.
Sources say the brother, who is an American
citizen, is being investigated for suspected fraud by tax authorities in the
USA.
He has refused to be examined by the CBI citing the Fifth Amendment of the
US Constitution under which he has the right not to answer any questions to
avoid implicating himself.
Besides the assets case, there are 11 other
cases under the Prevention of Corruption Act pending against Sharma for irregularities
in allotment of petrol pumps.
The CBI has recommended his prosecution and
is awaiting permission from the Government to go ahead.
