Malegaon laundering case: ED searches seven places in Mumbai, Ahmedabad, seizes ₹13.5 crore
The Hindu
Enforcement Directorate seizes ₹13.5 crore in cash during Malegaon money laundering case investigation in Mumbai and Ahmedabad.
The Enforcement Directorate (ED), Mumbai Zonal Office, on Friday (December 6, 2024) searched seven premises in Ahmedabad and Mumbai, and seized ₹13.5 crore in cash.
The search operation was conducted in connection with the Malegaon money laundering case in which the accused had allegedly misused accounts opened with the Nashik Merchant Co-operative Bank (NAMCO Bank) to withdraw ₹196 crore over five months.
In a press release, the agency said, “This case is based on FIR No. 295/2024 dated November 7, 2024, registered by the Malegaon Chawani Police Station, Nashik, regarding unknown deposits of huge amounts of more than ₹100 crore in 14 newly opened accounts with Nasik Merchant Co-operative Bank, Malegaon, Nashik. This FIR was registered against a person named Siraj Ahmed Mohammad Harun Memon and his accomplices who used identity documents of various innocent persons. They obtained the documents by making false promises and monetary considerations to layer and transfer the proceeds of crime.”
During investigation, the ED found that five accounts were also maintained with the Bank of Maharashtra, Nashik branch.
The investigation of debit transactions made through various online banking channels from these accounts revealed that majority of the money was transferred to 21 sole proprietary concerns. Analysis of the statements of 21 accounts, where the amounts were transferred, revealed that hundreds of crores were credited which were further transferred to the accounts of various firms.
Analysis of the bank statements revealed that hundreds of crores of rupees were withdrawn in cash from these accounts.
The agency found that two persons, Nagani Akram Mohammad Shafi and Vasim Valimohmad Bhesaniya, had withdrawn cash from accounts of various dummy entities and distributed the money to hawala operators in Ahmedabad, Mumbai and Surat.
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