UK freezes Quattrocchi's accounts

NEW DELHI: The UK authorities have frozen two bank accounts in the name of Bofors scam accused and Italian businessman Ottavio Quattrocchi. The accounts have deposits worth three million pounds.
The UK action came in the wake of a request from the Central Bureau of Investigation probing alleged payoffs to Indian officials and politicians by Swedish arms manufacturers Bofors for selling 155 mm howitzers.
The initial information about the existence of the bank accounts was received from the Interpol in the last week of June. A letter rogatory was issued by the competent court in Delhi for investigation into the said accounts. Request was also sent for freezing of the accounts.
The Interpol, London, on Monday informed the CBI that the Crown Prosecution Service has obtained an order restraining the operation of the two accounts.
This would not have been possible but for the cooperation and timely action by the Interpol and the UK authorities concerned, a CBI release said.
The CBI has filed a chargesheet against Quattrocchi in a New Delhi court. At the time of filing of the chargesheet, Quattrocchi was based in Malaysia, and proceedings for his extradition were initiated there.
After the lower court did not accede to the request for extradition on technical grounds, the CBI took up the matter in higher courts and at present the matter is before the court of Appeals at Kuala Lumpur.
Besides, the CBI is also in touch with Italian authorities for ascertaining the whereabouts of Quattrocchi through Interpol and diplomatic channels.
Investigation had revealed that Quattrocchi had received $7.12 million from Bofors through A E Services, a UK-based company.
After receiving this money, he had been transferring the funds from one account to another and from one jurisdiction to another to avoid detection.