A person is declared a fugitive economic offender (FEO) only when an arrest warrant has been issued against him for specified offences over Rs 100 crore and when he has left the country and refuses to return to face prosecution.
There are 55 economic offences covered which include tax evasion, money laundering, transactions defrauding creditors, benami transactions, counterfeiting government stamps or currency and dishonouring cheques.
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