Malegaon money laundering case: ED raids seven places in Mumbai, Gujarat; seizes cash worth Rs 13.5 crore
On November 7, Malegaon Chawani Police Station, Nashik had conducted its first action against the culprits over more than Rs 100 crore being deposited in 14 newly opened accounts with NAMCO Bank, Malegaon, Nashik.
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In its most recent action, the agency seized proceeds of crime in the form of cash worth Rs 13.5 crore. In Mumbai, the agency raided some angadia operators.The Enforcement Directorate (ED) Mumbai Zone-2 on Friday conducted fresh searches at seven places in Gujarat and Mumbai, in connection with the Malegaon money laundering case where the accused allegedly misused bank accounts of local residents in Nashik Merchant Co-operative Bank (NAMCO Bank), Malegaon, and allegedly withdrew Rs 196 crore over five months, the agency said on Friday.
In its most recent action, the agency seized proceeds of crime in the form of cash worth Rs 13.5 crore. In Mumbai, the agency raided some angadia operators.
On November 7, Malegaon Chawani Police Station, Nashik had conducted its first action against the culprits over more than Rs 100 crore being deposited in 14 newly opened accounts with NAMCO Bank, Malegaon, Nashik.
The FIR was registered against Siraj Ahmed Mohammad Harun Memon and his accomplices who used “identity documents of various innocent persons (obtained by false promises / monetary considerations) to layer and transfer the proceeds of crime”.
The ED later registered a money laundering case based on the Malegaon police’s case.
An investigation conducted by ED revealed that five similar accounts were also maintained with Bank of Maharashtra, Nashik Branch.
The money trail investigation conducted by ED of “debit transactions” made through various modes of online banking channels from 14 accounts maintained with NAMCO Bank and five with Bank of Maharashtra revealed that majority of the amounts were transferred to 21 sole proprietary concerns.
Analysis of bank statements of the 21 accounts revealed that transactions of hundreds of crores of rupees were credited to these, mostly through online banking channels, which were further transferred to the accounts of various firms/ companies, ED stated.
Probe also revealed that huge amounts running into hundreds of crores of rupees were withdrawn in cash from these accounts.
ED officials found that two other persons, Nagani Akram Mohammad Shafi and Vasim Valimohmad Bhesaniya, had withdrawn huge sums from accounts of dummy entities and distributed this among angadia operators located in Ahmedabad, Mumbai and Surat, the probe agency said.
They worked on the instructions of one Mehmood Bhagad alias Challenger King. Nagani Akram Mohammad Shafi and Vasim Valimohmad Bhesaniya have already been arrested under section 19 of PMLA, 2002.
Earlier, the ED had carried out search operations at around 25 premises located at Mumbai, Surat, Ahmedabad and Nashik last month, which resulted in the seizure of incriminating documents, digital evidence, FDs and bank balances of Rs 5.2 crore.
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