India's former External Affairs Minister Natwar Singh has, for the first time, been directly accused by the Enforcement Directorate  for his involvement in the Iraq oil scam. The Directorate has alleged that Singh "jointly and severally" illegally acquired foreign exchange $8.9 lakh alongwith his son Jagat and three others. The 18-page show-cause notice issued by the ED says the money was acquired by the accused, in violation of U.N regulations, in exchange for two oil contracts awarded to Iraq's State Oil Marketing Organisation (SOMO). Of the $ 8,90,000, $7,48,550 was allegedly transferred by them to an account in the Jordan National Bank, the remaining $1,46,247.23, which was the commission for the oil-contracts, was deposited with Barclays Bank, in the Channel Islands. The money was transferred to an account in the name of Indus Trading Company, which itself is owned by Andaleeb Sehgal, a friend of Mr. Singh.
India's former External Affairs Minister Natwar Singh has, for the first time, been directly accused by the Enforcement Directorate (ED) for his involvement in the Iraq oil scam. The ED, which is responsible for enforcing foreign exchange control laws, has alleged that Singh , along with his son Jagat Singh and three others, acquired foreign exchange worth $8.9 lakh illegally. The 18-page show-cause notice issued by the ED says the money was acquired by the accused, in violation of U.N regulations, in exchange for two oil contracts awarded to Iraq's State Oil Marketing Organisation (SOMO). Of the $ 8,90,000, $7,48,550 was allegedly transferred by them to an account in the Jordan National Bank, the remaining $1,46,247.23, which was the commission for the oil-contracts, was deposited with Barclays Bank, in the Channel Islands. The money was transferred to an account in the name of Indus Trading Company, which itself is owned by Andaleeb Sehgal, a friend of Mr. Singh.
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(ED)
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Directorate
ED, which is responsible for enforcing foreign exchange control laws,
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"jointly and severally" illegally
, along with his son Jagat Singh and three others,
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$8.9 lakh alongwith his son Jagat and three others. The 18-page show-cause notice issued by the ED says the money was acquired by the accused, in violation of U.N regulations, in exchange for two oil contracts awarded to Iraq's State Oil Marketing Organisation (SOMO). Of the $
worth $8.9 lakh illegally. The 18-page show-cause notice issued by the ED says the money was acquired by the accused, in violation of U.N regulations, in exchange for two oil contracts awarded to Iraq's State Oil Marketing Organisation (SOMO). Of the $