Mumbai, Feb 24 (PTI) Pune-based businessman Hasan Ali Khan, who was once accused of stashing billions of dollars in Swiss banks and faced probes by the Income Tax department, CBI and ED, died at a hospital in Hyderabad, his lawyer said here on Friday.
Khan (71) died on Thursday night and his body was brought to Pune on Friday morning, said his lawyer Prashant Patil.
The Enforcement Directorate (ED) had arrested him on March 7, 2011, for alleged money laundering.
The businessman, who owned stud farms in Pune, spent more than four years in jail before being granted bail in 2015. Earlier, he was in news when in January 2007 the Income Tax department conducted searches at his residences in Mumbai and Pune.
One of the documents found at his premises allegedly showed that USD 8 billion (about Rs 36,000 crore) were about to be transferred from one of his Swiss bank accounts by January 15, 2007.
When the ED booked Khan, it seized about Rs 26.30 lakh in cash from his possession.
The special Prevention of Money Laundering Act court had framed charges against Khan last year but the trial was yet to begin.
Advocate Patil said Khan’s case was an example of how central probe agencies with vast powers can ruin an innocent man’s life.
“If this is a case of money laundering, where is the money?” he said, adding that he would request the court to continue the trial so that Khan gets justice.
Khan is survived by his wife and a son. PTI AVI KRK KRK
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