The Enforcement Directorate (ED) conducted searches at seven places in Mumbai and Ahmedabad in a financial fraud case. The search operation began on Friday in a financial fraud case of Rs 196 crore. Suspicious financial transactions of more than Rs 100 crore were reported in Nashik Commercial Cooperative Bank. A complaint was filed at Malegaon Chawanni police station on November 7. It is alleged that more than Rs 100 crore has been deposited in 14 new accounts in Nashik Commercial Cooperative Bank. The ED received a complaint of illegal transactions. Based on that complaint, the ED started an investigation.
On Thursday, several teams of the investigating agency conducted searches in Mumbai and Ahmedabad in Gujarat. At that time, the investigators recovered Rs 13.5 crore in cash from those two cities. According to ED sources, a case of financial fraud has been filed against Siraj Ahmed Harun Memon and his associates. They have been accused of transacting this huge amount of money by providing false information and using fake identities. During the investigation, the ED found traces of five such accounts in another bank in Nashik. Crores of rupees were transacted in those accounts too. And all the accounts are in the name of one person. This is the claim of the ED.
14 such accounts have been frozen in Nashik Commercial Cooperative Bank and five more in another bank. ED sources have claimed that two persons named Nagni Akram Mohammad Shafi and Wasim Walim Mohammad Vesania have been accused of money laundering in Ahmedabad, Mumbai and Surat. The remaining two accused worked in money transactions under the orders of a person named Mehmood Bhagad. They have been arrested, according to ED sources.
