Mumbai, June 4: The Enforcement Directorate (ED) has seized and frozen assets worth around Rs 1.33 crore following searches at 21 locations across Maharashtra and Gujarat in connection with a money laundering probe into an alleged transnational narcotics trafficking syndicate linked to Salim Ismail Dola and his associates, officials said on Thursday.
The searches were carried out on June 2 and 3 under the Prevention of Money Laundering Act (PMLA), 2002. According to the agency, the operation targeted multiple components of the syndicate's network, including suppliers of precursor chemicals, chemical traders, alleged manufacturers and distributors of the synthetic drug mephedrone (MD), hawala operators, and individuals suspected of holding benami assets acquired using proceeds of crime generated through the organised drug syndicate.
Assets worth Rs 1.33 crore seized
The ED said the searches resulted in the seizure and freezing of cash, bank balances, gold bars and foreign currency collectively valued at approximately Rs 1.33 crore. The agency also recovered foreign currency amounting to USD 2,200.
Officials said documents relating to immovable properties worth several crores of rupees in India and Dubai were also recovered during the searches. The properties are suspected to have been acquired using funds generated through the alleged drug trafficking network.
Supply chain under probe
According to the ED, the operation was aimed at disrupting both the syndicate's supply chain and its financial infrastructure by targeting key links involved in the production, distribution and laundering of proceeds generated from narcotics trafficking.
The money laundering investigation stems from multiple FIRs registered by law enforcement agencies in Mumbai against Dola and others for offences related to the illicit trafficking of narcotic drugs and psychotropic substances.
Transnational network suspected
The probe has so far revealed the existence of what the ED described as a highly organised transnational criminal network involved in procuring precursor chemicals, clandestinely manufacturing mephedrone, transporting and distributing narcotic substances across states, trafficking drugs internationally, and routing proceeds through hawala channels.
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Investigators also suspect that members of the network used associates and other individuals to acquire movable and immovable assets derived from the proceeds of crime.
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