Money Laundering Allegation: Avinash Luchoo Explains the Source of His Assets to the FCC

On March 5, the Financial Crimes Commission (FCC) arrested Avinash "Poum" Luchoo and Harris Bans Greedhur, suspected of orchestrating a money laundering scheme through proxies and acquisitions financed by dubious funds. Both men deny these allegations.

Avinash Luchoo defends himself against any illicit activities. During an interrogation by the FCC, alongside his lawyers, Me Ashley Hurhangee and Me Rishi Bhoyroo, he claimed that the seized and sealed assets came from his legitimate business activities.

However, the commission suspects that he has set up a scheme to launder money from questionable funds, linked to Harris Bans Greedhur. Investigators are attempting to establish a structured mechanism, including the use of proxies, to hide the true origin of the funds.

When asked about his relationship with Harris Bans Greedhur, Avinash Luchoo stated that they were merely "acquaintances from the neighborhood" in Madame Azor, Goodlands, and denied any financial or real estate transactions with him. Investigators, however, claim to have evidence suggesting otherwise, aiming to demonstrate the establishment of a coordinated mechanism.

Avinash Luchoo provided the FCC with an overview of his business activities, which include agro-industry, livestock, and food sales. According to him, these various businesses have generated his income over the years. When the commission examined a car rental business attributed to him, he denied being the owner, clarifying that the operation was managed by a third party. Some vehicles seized during the operations were part of this rental fleet, but Avinash Luchoo insists he is not responsible for them.

Investigations are focused on the duo of Luchoo and Greedhur. According to investigators, the former is said to generate the funds, while the latter acts as a front through his business activities. During the searches, approximately Rs 12 million in cash, several luxury vehicles, jewelry, and other items were seized. Authorities are also examining the companies and activities linked to the suspects to trace financial transactions and determine the origins of the acquisitions.

The case illustrates the authorities' commitment to strengthening the fight against money laundering by tracing the flow of funds and assets to identify the financial structuring of the suspects. Hearings are ongoing and are expected to clarify each individual's exact role in this alleged network.