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Analysis of the bank statements revealed that hundreds of crores of rupees were withdrawn in cash from these accounts.
The agency found that two persons, Nagani Akram Mohammad Shafi and Vasim Valimohmad Bhesaniya, had withdrawn cash from accounts of various dummy entities and distributed the money to hawala operators in Ahmedabad, Mumbai and Surat.
Activists urge Nilgiris district administration to act against rising construction site deaths following recent tragedies involving migrant workers.
Generation Kplus features two Indians: National Award-winning Assamese filmmaker Rima Das’s coming-of-age ‘Not a Hero’, and Amay Mehrishi’s the UK-India-produced short film ‘Abracadabra’
The Shivamogga district administration will hold a workshop on the implementation of the State government’s five guarantee schemes at Kuvempu Ranga Mandira on January 21.
New Zealand's historic ODI series win in India highlights tactical superiority, urging India to address key performance issues.
Amandeep Lakra seizes his chance as Hyderabad Toofans' top drag-flicker, thriving in Peillat's absence during the Hockey India League.
Dalit associations demand investigation into ongoing attacks on SC residents in Bhogapuram due to drainage water pollution.
Explore the controversy behind censoring Jana Nayagan and the implications of film censorship in India on In Focus Podcast.
CM Stalin inaugurates Mamallan reservoir in Chennai, enhancing water supply and supporting local fishing communities through sustainable management.
KTR accuses the Centre of delaying Sircilla's Mega Power Loom Cluster as political vendetta against Telangana's weaving community.
Authorities to install protective netting on Thamarassery Ghat Road to mitigate landslide risks and enforce traffic regulations.
DGP K. Ramachandra Rao faces backlash after an old video of inappropriate behavior surfaces; officer calls it a conspiracy against him.
Trupti Bhoir’s ‘Paro,’ which exposes bride slavery in India, is on the Academy of Motion Picture Arts and Sciences’ list of 201 feature films eligible to compete for the Best Picture award at the Oscars 2026
Kerala to hand over houses to Wayanad landslide victims in February, ensuring secure living spaces with essential facilities.