The Enforcement Directorate (ED) on Friday conducted a search operation at seven places in Ahmedabad and Mumbai and seized the proceeds of crime in the form of cash worth Rs 13.5 crore from these places. Actually, this seizure made by ED is related to the case of Nashik Merchant Co-operative Bank (NAMCO Bank), Malegaon. Investigation of transactions made through the accounts of NAMCO Bank and Bank of Maharashtra by ED has revealed that most of such amounts were transferred to 21 sole proprietorship entities. Let us tell you that recently ED had taken major action in two cities of Maharashtra, in which ED had seized crores of rupees.
ED seized cash worth about 13.5 crores
The big thing is that as soon as it was known, the Mumbai zone of ED started the search operation. ED investigated it to the bottom and found out that all these transactions were done through online channels. In this connection, raids were conducted at seven places in Mumbai and Ahmedabad. In this raid, ED seized cash worth about 13.5 crores. According to media reports, ED is preparing to raid other such places by identifying them.
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Most of the transactions were done through online banking channels
On this raid, ED said that “Investigation has also revealed that transactions worth hundreds of crores of rupees were deposited in these accounts. Most of the transactions were delivered to different firms and companies through online banking channels. Not only this, apart from this, huge amounts of cash worth hundreds of crores of rupees were withdrawn from the accounts of different fake entities and the withdrawn cash was distributed to Angadiya and Hawala operators located in Ahmedabad, Mumbai and Surat.” ED said that “This raid has been done in connection with the search conducted in a case in November.”
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