ED Uncovers Crypto Wallets, Overseas Trading Accounts In Navin Chichkar Drug Money Laundering Probe

Mumbai, October 30, 2026: Recent searches conducted by the Directorate of Enforcement (ED) in connection with the drug network of Navin Chichkar have revealed details of certain “crypto wallets/assets” prima facie linked to the proceeds of crime.

Information also revealed that suspected persons were operating a number of crypto trading accounts from outside India. The identified details are being examined to trace linked accounts and transaction histories, and to secure the proceeds of crime (PoC), officials said on Friday.

The ED had conducted search operations on Wednesday under the provisions of the Prevention of Money Laundering Act (PMLA) across 11 premises in Mumbai and Navi Mumbai, as well as Surat and Bhavnagar in Gujarat, to trace the drug trafficking network and proceeds of crime generated through the illicit drug trade acquired by a well-established international narcotics syndicate headed by Navin Chichkar, Dhiraj Chichkar and their associates.

Searches Target Drug Money Laundering Network

Searches were conducted to trace the modus through which drug sale proceeds, received mainly in cash, were infused into the financial economy and further layered to project them as legitimate income.

The ED investigation was initiated on the basis of a complaint filed by the Narcotics Control Bureau (NCB), Mumbai, under various provisions of the NDPS Act, following the seizure of substantial quantities of high-grade hydroponic cannabis (ganja), cocaine and unaccounted cash in Mumbai/Navi Mumbai.

Navin Chichkar and others were allegedly involved in an established international network engaged in the sale of cocaine, hydroponic cannabis, LSD and cannabis edibles, largely sourced from outside India.

Digital Devices And Financial Records Seized

During the course of the searches, various incriminating materials and digital devices, including high-end smartphones, laptops and internal storage media, along with commercial books of accounts, financial ledgers and investment records, were seized.

Cash Converted Into Foreign Currencies

The searches have revealed that proceeds generated from the sale of narcotic drugs were routed through financial channels and cash was converted into foreign currencies, including US dollars and Thai Baht, which were subsequently made available to the accused.

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Moreover, proceeds of crime in cash were also invested in certain legitimate businesses so that the same could be shown as untainted money.

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