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This guy's ex-wife is my uncle's sister-in-law. My family knows this guy very well. It was pretty surprising to hear that he was involved in the biggest tax scam in India.

Billionaire tax evader in I-T net: IBNLive.com > Videos - video report



HASAN SPEAKS UP: Hasan says the I-T department has frozen four of his Indian bank accounts.

Billionaire tax evader in I-T net

Kanhaiya Singh / CNN-IBN

Pune: Hasan Ali Khan, the man allegedly involved in one of the India's biggest tax evasion cases, has finally surfaced.

Hasan gave a statement to the Pune Police at his house in Koregaon Park late on Saturday night denying any involvement in a money-laundering racket.

However, he has told the police that the Income Tax department had frozen four of his Indian bank accounts. One of these accounts is with the ABN Amro bank, which has a balance of about Rs 50 lakh.

The man, who could be the biggest ever catch for the I-T department, has denied any involvement in Hawala dealings.

However, this does not explain why he ignored four notices from the the Enforcement Directorate (ED) and three notices from the I-T Department over the last two months.

Because he ignored these notices, the ED issued directives against him to all airports. Hasan and his family's passports have also been impounded.

The passports were impounded after records were found from on his computer's hard disc, which showed transactions of more than Rs 35,000 crore.

All this money was deposited in the name of various trusts the details of the transactions were sent by an e-mail written in German.

Sources have also told CNN-IBN that the Central Bureau of Direct Taxes has asked the SEBI to furnish details of all the foreign funds which are under scrutiny.

The Prime Minister's Office has also swung into action asking the investigating agencies to submit a report on the probe.

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HOUSE THAT? Ali's house, Gulshan-e-Mahbubia is located in Hyderabad's Banjara Hills.

Hasan Ali's first wife disowns him

CNN-IBN

Hyderabad/New Delhi: Pune-based businessman Hasan Ali Khan has gone absconding since the Income Tax Department raided his properties in Bombay, Pune, Hyderabad and Bangalore.

CNN-IBN has now traced one of his bungalows called Gulshan-e-Mahbubia, located in Banjara Hills locality of Hyderabad.

It’s in this bungalow that Ali’s first wife Mahbuba Khan is presently staying along with her two sons.

However, when contacted, Mahbuba Khan refused to come out and conveyed the message through her maid that she had divorced Hasan Ali about eight years ago.

She said that she did not even have Ali’s photograph.

Even the neighbours stayed inside to avoid the media. Meanwhile, Ali's lawyer, Viraj Kakde maintained his client was not guilty and that no incriminating proof has been found against the businessman.

“Media is creating hype on the issue, according to my information nothing wrong is found from Hasan's house,” said Kakde.