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.
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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