Originally Posted by Goacrazy56 (Post 8416821)

Andy the link won't open,which news paper did you see this in
GC;)

Originally Posted by Goacrazy56 (Post 8416831)

published in Sify Business paper

'Some foreigners using dirty money to buy Goa property' 2010-03-12 17:50:00


Several controversial real estate deals by foreigners in Goa could well have been funded by proceeds from crime and narcotics trade, an Enforcement Directorate official Friday said.

'We are probing the possibility of money sourced from proceeds of crime and through sale of narcotics being used to purchase of properties,' the department's Assistant Director Jyoti Sharma told media persons here.


She said it has also been found that large volumes of money were being illegally routed by several foreign-run companies from tax havens abroad to purchase properties in coastal resort villages in the state.


However, she did not name the countries or financial institutions from where the money was being sourced.


Sharma was referring to the 350-odd cases being probed by the ED concerning properties purchased mainly in coastal Goa, by individual foreigners or by companies owned by foreign nationals in violation of the Foreign Exchange Management Act (FEMA) and violation of Reserve Bank of India guidelines.


'Out of the 350 cases, we have put 45 to 50 cases involving companies on fast track. We will be submitting our report within a few months,' Sharma said.


The official said that in several cases where land, which was purchased for setting up hospitality industry units by companies headed by foreigners, was being used for 'other purposes'.


'In several other cases we have found that no stated business is conducted. And at times no IT returns are filed at all, which is in contravention of FEMA (Foreign Exchange Management Act) norms,' she said.


The state government 2007 had asked the ED to probe the properties bought by foreigners in the period between 2003 and 2007, after public outcry that large chunks of land were being illegally purchased by foreigners, especially in coastal Goa.


Sharma also cited several cases where land graded as 'agricultural holding' was fraudulently converted to non agricultural used after it was bought by foriegners or companies owned by them.


'We have already completed investigation involving a Swiss national, August Thommen, in February last month. He had violated FEMA norms while purchasing 1,000 sq metre land at Anjuna (beach village in north Goa). The government has confiscated the property,' Sharma said, adding that Thommen had been fined Rs.2 lakh for violating the forex law.


She further said that a lot of properties were bought by foreigners, while visiting India on a tourist visa, while FEMA stipulated that a foreigner should be a 'resident of India' (residing in the country for more than 182 days) at the time of carrying out a real estate transaction.

GC;) watching and waiting

Originally Posted by Tuvalu (Post 8417206)

Funded by crime and narcotics trade? There's a surprise! My God where do they live?

Originally Posted by Tuvalu (Post 8417233)

Has anyone wondered why it was a Swiss national? Maybe something to do with the Swiss banks agreeing to give access to 'dirty money' transactions and unaccountable dosh.

Originally Posted by dreadsoc (Post 8418093)

I would say it is more likely that there are very few Swiss people living in Goa, therefore being from such a minority group here, they are seen as easy 'targets' for the DoE to justify their existence.

This couple have not broken the law. They have not used 'dirty money', nor are they involved in criminality. Both are retired professionals who have done nothing except pursue their dream of living in Goa like so many of us who have purchased homes here.

To even hint at otherwise, especially at a time like this, is callous at the very least. This couple need support not castigation.

Dread - judging on facts
x

Originally Posted by naranala (Post 8418147)

You may right. I'm also a Swiss and they try to do same with me. They comlain that I purchase agriculture land on the base of the sanad papers. I have a letter from the town and country planing dept. stating that my land is fully in the settlement zone. Very dirty tricks they try.

Originally Posted by naranala (Post 8418147)

You may right. I'm also a Swiss and they try to do same with me. They comlain that I purchase agriculture land on the base of the sanad papers. I have a letter from the town and country planing dept. stating that my land is fully in the settlement zone. Very dirty tricks they try.

Originally Posted by dreadsoc (Post 8418093)

I would say it is more likely that there are very few Swiss people living in Goa, therefore being from such a minority group here, they are seen as easy 'targets' for the DoE to justify their existence.

This couple have not broken the law. They have not used 'dirty money', nor are they involved in criminality. Both are retired professionals who have done nothing except pursue their dream of living in Goa like so many of us who have purchased homes here.

To even hint at otherwise, especially at a time like this, is callous at the very least. This couple need support not castigation.

Dread - judging on facts
x

Originally Posted by gregit (Post 8418920)

Mole maybe:huh: