ED summons Edelweiss CEO in forex scam, firm denies any role


New Delhi, Jan 11 (IANS): Edelweiss Finance Services on Friday denied allegations of any involvement in a forex scam to the tune of Rs 2,000 crore and said that it has no dealings with Capstone Forex after the Enforcement Directorate (ED) summoned Group founder and Chairman Rashesh Shah.

Earlier in the day, an ED source had said that the agency has summoned Shah to join the investigation in a foreign exchange case on Thursday.

According to the ED officials, Shah is under the scanner in a Rs 2,000 crore forex scam. The case pertains to violation of foreign exchange laws and involves Mumbai-based Capstone Forex Pvte Ltd.

"Shah was summoned to appear on Thursday, but, however, did not turn up for questioning and new summons have been issued against him," the ED official told IANS

Following the news of the summon issued to the Group CEO, the company denied the allegations. Edelweiss, in a statement, said: "We have received a communication from the Enforcement Directorate to appear and provide information about Edelweiss group companies' dealings with a company called Capstone Forex Pvt Ltd.

"We would like to state that none of our companies have any transactions with this company - Capstone Forex Pvt Ltd. We further deny wild and baseless allegations contained in the news items which are apparently attributed to unidentified sources. We are in fact shocked at the spread of unauthenticated allegations and the inference being drawn from it."

  

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Comment on this article

  • Rudolf Rodrigues, Mumbai

    Sat, Jan 11 2020

    I think all these big sharks are connected to each other through ghost cos, and ultimately many more will get exposed as investigations continue!

    Yesterday founder CEO of Yes bank became a pauper! Ex CEO of ICICI bank lost her 75 cr mansion to ED! Nobody knows who is in line next!!
    THE STOCK NOT WILL TURN OUT TO BE THE BIGGEST SCAM!!

    DisAgree Agree Reply Report Abuse

  • Shamsuddin, Dubai

    Sat, Jan 11 2020

    Rashesh Shah is he Gujju or Kannadiga?.....lol

    DisAgree Agree Reply Report Abuse


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