Malegaon Money Laundering Case: ED Investigates 350 Dummy Accounts, Identifies Key Roles Of Accused

Mumbai: The probe into the Malegaon money laundering case is far from over, as the Enforcement Directorate (ED) has claimed that it is investigating 350 dummy accounts used to transfer funds amounting to thousands of crores of rupees into 19 fake accounts of two banks in Malegaon, which were later withdrawn in cash. The cash was subsequently sent to Mumbai and Ahmedabad through hawala channels.

The ED had last week submitted its first prosecution complaint in the case against the three accused namely – Seraj Ahmed Memon, Nagani Shafi and Wasim Bhesaniya, as the time limit to file it was about to get over. The agency, however, claimed that its probe continues as against the other accused and the mastermind - Mehmood Abdul Samad Bhagad, alias Challenger King.

The special PMLA court took cognisance of the complaint filed by the ED, observing that Memon (accused no 1) played a key role in organising the money laundering scheme. It is Memon, who has procured identity documents and newly activated SIM cards of multiple individuals. He had obtained it under the pretext of offering financial benefits or employment.

Meanwhile, against the role of Shafi (accused 2) and Bhesaniya (accused 3) the court said, “Accused Nos 2 and 3 have played a key role in the crime. They were actively involved in making transactions/withdrawal of funds of Rs 198.41 crore from the bank accounts of six shell entities. They handled the cash withdrawal of Rs 198.41 crores from the bank accounts, sent it through various hawala operators to various persons for its integration in the nation's economy,” the court said while holding that there is a prima facie evidence against the three of them.