A Dutch judge has released three former employees of a local company who were arrested over suspected laundering of USD 1.2 billion through over-invoicing services and works rendered for a gas pipeline built by a unit controlled by billionaire Mukesh Ambani. While East West Pipeline Ltd (EWPL) — previously known as Reliance Gas Transportation Infrastructure Ltd — vehemently denied all allegations, Dutch publication Cobouw reported that the three suspect were released on Friday after three days.
Cobouw, which has been published since 1850, said the lawyers of the three suspect stated that the magistrate decided that they are no longer required to be detained for questioning. EWPL denied that any money was laundered at any stage during implementation of the project and that higher capital cost of a pipeline would result in higher tariff for users for receiving natural gas through the line.
