Actor-businessman Sachiin Joshi was arrested on Sunday by the Enforcement Directorate (ED) for his alleged involvement in laundering Rs 100 crore in the business activites of Omkar Developers, Hindustan Times reported. Joshi has been charged under the Prevention of Money Laundering Act (PMLA) and is under questioning for two days. He will be taken to the PMLA court on Monday.
Income tax officials raided Joshi’s residence in Mumbai recently without citing any reason.
In March 2020, a first information report (FIR) was filed by Aurangabad Police against Omkar Group for criminal breach of trust. They bought a firm, Surana Construction, which had slum rehabilitation authority (SRA) rights for redevelopment of Anand Nagar SRA Cooperative Housing Society, Wadala, Mumbai. However, Omkar and its promoters failed to pay the due amount to the seller and mortgaged the future land of the SRA project. They apparently diverted Rs 410 crore taken in loans.
The 36-year-old businessman has made headlines before for buying Vijay mallya’s Kingfisher Villa for Rs 73.01 crore. His website refers to him as “the man behind the Viiking Mission, entrepreneur, businessman, actor, sports enthusiast, franchise and team owner and movie producer”.
The Cyberabad Police in Hyderabad had registered a cheating and Trademark Act violation case against Joshi and his father in October 2020 for operating a ‘gutka’ manufacturing unit it the outskirts of Hyderabad.
Joshi has worked in Tollywood and Bollywood. He was recently seen in ‘Amavas’.