The Hindu : U.K. court imposes cost on Quattrocchi

Online edition of India's National Newspaper
Thursday, Jan 22, 2004

International

International - India & World

U.K. court imposes cost on Quattrocchi

NEW DELHI, JAN. 21. The apex court in the United Kingdom has upheld the decision of the High Court to freeze the accounts of Bofors scam accused, Ottavio Quattrocchi, which contain more than £3,000,000.

CBI sources said the Court of Appeal of the U.K. passed the order after hearing the arguments of both the Crown Prosecutor and the CBI.

The U.K. High Court had ordered the freezing of the two accounts in BSIAG Bank, London in which Quattrocchi had reportedly stashed away three million Euros and $ one million of Bofors kickback money.

The CBI had sent a special prosecutor to London to assist the Crown Prosecutor in the case. After the High Court ordered the freezing of the accounts on November 24, Quattrocchi had appealed in the Supreme Court saying that ``the Bofors case was politically motivated and he was not involved in it.''

While dismissing the petition of Quattrocchi, the court also ordered imposing a cost of £38,460 on the accused.

Counsel appointed by the Crown Prosecutor argued that the money should not be released as there was an immediate need to probe its source following India's allegation that it was part of the payment that Quattrocchi received from the Swedish gun manufacturer, Bofors. Quattrocchi had been transferring the funds from one account to another in a deceitful manner to evade detection by the law, the CBI had informed the court. It is reported that the £3,000,000 deposited in the accounts were a part of $73,430,000 paid to Quattrochhi by A.B. Bofors through A.E. Services. — UNI

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U.K. court imposes cost on Quattrocchi