Baba Ramdev's Scotland island prompts formal inquiry
Baba Ramdev's Rs. 1,100 crore empire is in trouble and 50 of his companies and trusts are under the scanner.
The Enforcement Directorate has filed a case stating that yoga icon Baba Ramdev and his trust have violated foreign exchange laws. The case centres upon an island in Scotland that was gifted to Baba Ramdev by a wealthy couple of Indian origin who say they are his followers.
Early last month, the Enforcement Directorate had asked UK authorities to share records of the purchase of The Little Cumbrae Island, which serves as the yoga icon's base abroad. Ramdev's trust claims the island is valued at $2 million. The Enforcement Directorate says it is well over $20 million.
According to sources, the investigating agency has found evidence that Baba Ramdev and his trusts channeled unauthorised funds to overseas accounts, and has slapped a case of foreign exchange violations worth Rs. 7 crore. Two large remittances were suspicious, they said - $300,000transferred to a London bank and $80,000 sent to Madagascar in Africa.