The Congress’ Masterclass on Money Laundering- Decoded by FATF report

FATF report flags Congress: While you may believe that it was the grand old Congress party that won us independence, all that the Congress could give to the nation were scams. Only two terms and nine scams, including the coal scam, the 2G Spectrum case, the choppers scam, and the Commonwealth Games scam. Well, UPA I and II were not exceptions at all. The previous governments looted the nation too, somewhere in the name of Bofors and others in the name of Jeeps. Now, the global watchdog dealing with anti-money laundering measures related to terror funding has got to know about Congress and its nature of ‘corruption and scams’.

FATF flags Congress’ corruption in a report

Times are hard for the Congress party. After facing back-to-back humiliations on the electoral pitch, the Congress is getting embarrassed at the hands of the global anti-terror task force. The Financial Action Task Force (FATF) has released a report titled ‘Money Laundering and Terrorist Financing in the Arts and the Antique Market’. The FATF report mentions a leading Indian banker who bought overvalued artwork from a “close relative of a member of the ruling political party at that time.” The report does not name the banker or the politician and refers to the accused as “Mr. A.”.

The report says that Mr. A happened to be the managing director and CEO of an Indian bank who misused his position during his tenure. “Mr. A purchased a piece of art from the close relative of a member of the ruling political party at that time for $264000,” said the report, alleging that the price was paid not for the painting but as a bribe to influence the awarding of India’s third highest civilian award, the Padma Bhushan.

Also read: Pakistan likely to be out of FATF grey list

MF Hussain’s painting haunts ‘Gandhi-Parivaar.”

Well, the corruption model pointed out by FATF is already being investigated by India’s Enforcement Directorate (ED). As per ED, the bank CEO who bought the painting was then Yes Bank Co-Founder Rana Kapoor. FATF Report suggest that Kapoor was forced to buy an MF Hussain painting from Congress leader Priyanka Gandhi Vadra for Rs. 2 crore. Kapoor has said before the agency that he was approached by Congress leader Milind Deora, who coerced him to buy the painting.

Alleging that the formalities for closing the deal were held at Priyanka Gandhi’s office, Rana Kapoor also revealed how Milind Deora (son of Murli Deora) informed him of the 2-crore cheque being used for the medical treatment of Sonia Gandhi in New York.

BJP attacks Congress over FATF report

The Bhartiya Janata Party has attacked the Congress party and called it a matter of “great shame” that the “story of the Gandhi family’s corruption.” Union Information and Broadcasting Minister Anurag Thakur said, “New models of Congress’ corruption are coming to the fore. Now, the FATF has published a case study that shows how a former Union Minister in the UPA government pressured an individual into buying Priyanka Gandhi Vadra’s average painting for Rs 2 crore.”

Till now, the media and people used to discuss the FATF only for the fact that Pakistan will remain on the grey list or will go even further. Now, the same FATF is being discussed again in the context of an influential family in the country,” he said.

Also read: The real reason why Pakistan may be removed from the FATF grey list

FATF’s telling of a corruption tale, namely “Art-Gate,” has definitely brought shame to the nation. Well, it is good that a global watchdog has said so, as until now the investigation by Indian agencies was termed “political vendetta’.

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