Archive · 30 May 2025
DHFL's Dheeraj Wadhawan Tried Selling Paintings in Custody
Dheeraj Wadhawan, formerly with DHFL, tried to sell expensive paintings while in custody for money laundering.
The paintings, including works by Tyeb Mehta and Manjeet Bawa, were purchased with money from DHFL, but the attempt was foiled.
Wadhawan met with a bookie and businessman while in the hospital.
The ED's investigation revealed significant financial misconduct, including the creation of fake loans and fund diversion.
The Wadhawan family also spent a lot on luxury items.
Auditors and others assisted in siphoning funds, causing significant losses.
Dheeraj Wadhawan attempted to sell paintings worth Rs 31 crore while in custody.
The paintings were purchased with funds diverted from DHFL.
Wadhawan was arrested in a Rs 34,000-crore money laundering case.
The ED's chargesheet details fund diversion, fake loans, and lavish spending.
Auditors, legal consultants, and others are implicated in assisting with the siphoning of funds.
- Who
- Dheeraj Wadhawan, Kapil Wadhawan, and others
- What
- Attempted sale of paintings and other financial misconduct
- When
- In judicial custody recently
- Where
- Hospital and locations related to investigation
- Why
- To liquidate assets and divert funds.
- Accused
- Dheeraj Wadhawan, Kapil Wadhawan, Ajay Nawandar, Ajay Vazirani
- Financial Misconduct
- Fund diversion, creation of false loan records
- Total Loan Default
- Rs 34,000 crore
- Paintings Value
- Rs 31 crore
- Jewellery and Valuables
- Rs 175.3 crore spent in 2019-20
