Updated: April 16, 2014 3:51:03 pm
The Enforcement Directorate (ED),Jalandhar,Tuesday registered a money laundering case against NRI drug dealer Anoop Singh Kahlon in connection with narcotics recovered from his Zirakpur house last month.
A case under Section 3 and 4 of Prevention of Money Laundering Act has been registered against Kahlon and others including,Kulwinder Singh alias Rocky,Kahlons driver, ED Deputy Director Niranjan Singh said.
The agency,sources said,will probe how and where the proceeds of crime were used by the accused. It will also question the accused and track the flow of money through various financial channels.
Prima facie,the modus operandi of smuggling drugs and generating black money being probed by the Punjab Police points to a possible hawala and laundering racket in this case,they said.
Hawala is a common name for illegally routing ill-gotten money within and outside the country. The agency has taken cognizance of the Punjab police FIR registered in this case and that is the basis of its initial probe.
Citing the figure given by Kahlon and Kulwant Singh,who were arrested by Fatehgarh Sahib police in the case,Punjab Police said the wholesale price of the drugs seized from Kahlons house in the international market was Rs 121 crore and its retail price was approximately Rs 484 crore.
The sheer value of the seized drugs has led the agency sleuths to suspect that it could potentially lead to cracking of a big laundering racket involving illegal proceeds of the narcotics trade.
Kahlon comes from a village near Jalandhar and had spent his childhood here before migrating to Canada.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.