One arrested for hawala transactions

MUMBAI, May 21: The Enforcement Directorate (ED) officials today arrested a person allegedly involved in hawala transactions to the tune of...

MUMBAI, May 21: The Enforcement Directorate (ED) officials today arrested a person allegedly involved in hawala transactions to the tune of Rs 56.54 lakh.

The officials also seized Rs 75,000 and incriminating documents when they conducted a raid at the residence of the accused, Riyaz Ahmed Abdul Latif, yesterday, ED sources here said.

Latif, in his statement, admitted that he had contacted one Nemat in Dubai in May 1994 and as per his instructions, received about Rs 60 lakh from Ashok Jain in Mumbai.

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Latif also admitted that he distributed the amount that he received from Jain to various persons as per the telephonic instructions given to him by Nemat.

Enforcement Directorate had earlier arrested Ashok Jain, the proprietor of Messrs Shreeji Exports, for hawala dealings in January 1997 and seized incriminating documents and diaries. Based on the information contained in these documents, Latif was nabbed, ED officials said.

The ED officials said that the accused, by accepting the amount from a person, who is not an authorised dealer in foreign exchange, and by distributing the same to others, had violated the provisions of sections 9 (1) (b) and 9 (1) (d) of FERA 1973.