Congressman Ahmed Patel's son-in-law ... Rs 16,000 crore sterling biotech loan fraud case ... Enforcement action

Ahmedabad; The Enforcement Directorate on Friday suspended more than Rs.8 crore worth of assets belonging to Irfan Siddiqui, son-in-law of the late Congress senior leader Ahmed Patel, in connection with a Rs.16,000 crore sterling biotech loan fraud case.

Also cast include Dino Morea, Sanjay Khan and DJ. Enforcement has also frozen Ahul's assets for the same case.

On behalf of Sterling Biotech, its directors - Nitin Jayanthilal Sandesara, Chetankumar Jayanthilal Sandesara and Deepti Sandesara - have defrauded the bank of Rs.14,500 crore.

According to a statement issued by the Directorate of Financial Crimes Enforcement, Gujarat-based business tycoons Sandesara brothers have been implicated in a Rs.16,000 crore sterling biotech loan scam in which money was allegedly transferred to Rum Irfan Siddiqui, Dino Morea and DJ Akhil.

Investigations have revealed that DJ Akhil received Rs 12.54 crore from the Sandesara brothers, Rs 3.51 crore from Irfan Siddiqui and Rs 1.4 crore from Dino Morea. The transactions are considered criminal income.

For this, 2.41 crore assets of Irfan Siddiqui, 1.98 crore assets of DJ Achilles and 1.4 crore assets of Dino Morea have been temporarily frozen.

Of the Rs.16,000 crore considered as criminal income in the case against the Chandisara brothers, assets worth Rs 14,521 crore have been frozen so far, an enforcement official said.