PMLA Court Denies Bail To 59-Year-Old Ahmedabad Trader In ₹317.49 Malegaon Money Laundering Case
A PMLA court denied bail to 59-year-old Ahmedabad trader Sharifmiya Shaikh in the Malegaon money laundering case. The court cited his attempt to flee India and links to alleged mastermind Mehmood Bhagad. Investigators say ₹317.49 crore from cyber fraud and betting apps was laundered via bank accounts, with Shaikh accused of hawala transfers.
PMLA Court Denies Bail To 59-Year-Old Ahmedabad Trader In ₹317.49 Malegaon Money Laundering Case | File Pic (Representational Image)
Mumbai: The special court under the Prevention of Money Laundering Act has refused bail to Sharifmiya Shaikh, a 59- year-old Ahmedabad trader arrested in the Malegaon money laundering case.
The court observed that Shaikh tried to flee the country before being apprehended at Ahmedabad airport. Shaikh allegedly worked for Mehmood Bhagad, known as Challenger King, the suspected mastermind. Investigators claim cyber fraud and betting apps collected over ₹317.49 crore, which was laundered through 12 accounts at Nashik Merchant Co-operative Bank.
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Shaikh’s lawyer, Neha Ahuja, contended he had no concern with the offence. Public prosecutor Sunil Gonsalves claimed Shaikh charged a commission to transfer funds to Dubai via hawala. Special Judge RB Rote noted sufficient evidence connecting Shaikh to fugitive Bhagad.
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