Mahesh Shah +I-T department +AHMEDABAD: Gujarat businessman, who had disappeared after declaring unaccounted income of Rs 13,860 crore, the biggest disclosure in India under the Income Declaration Scheme (IDS), appeared before the media on Saturday.Shah, who was later detained for concealing income, said he was a front to convert black money into white for several influential people. "The Rs 13,860 crore declared in IDS was not mine. The amount can be higher," he said when asked if the money belonged to politicians, businessmen and builders. "I was going to pay the first instalment of Rs 1,560 crore (penalty) but the persons (whose money I declared) backed out at the last minute. Since Shah is involved in a major money laundering racket,has sought police assistance to ensure his security, local cops said.

Source: Times of India December 03, 2016 20:35 UTC