Probe Reveals Hustlers Hospitality Used Sirazi's Drug Money For Restaurant Ventures

Probe Reveals Hustlers Hospitality Used Sirazi's Drug Money For Restaurant Ventures

According to the prosecution complaint, Oza received approximately Rs 1.9 crore in proceeds of crime (PoC) from June 2022 from Falisha Technoworld LLP, a company associated with Sirazi.

Ashish SinghUpdated: Friday, June 28, 2024, 01:25 AM IST
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Left To Right Aliasgar Sirazi, Krunal Oza | FPJ

Hustlers Hospitality Private Limited, a company in the hospitality sector, has allegedly been implicated in the notorious drug syndicate led by Aliasgar Sirazi. According to the Enforcement Directorate’s (ED) prosecution complaint (PC), Krunal Oza, the director of Hustlers Hospitality, received substantial funds directly tied to Sirazi's illegal operations. The investigation revealed that despite being fully aware of the illicit origins of the funds provided by Sirazi, Krunal Oza allegedly facilitated their laundering through the company's cloud kitchens and restaurants. It is alleged in the chargesheet  that Oza actively concealed and possessed proceeds of crime (PoC), meticulously disguising these tainted funds as legitimate revenue.

According to the prosecution complaint, Oza received approximately Rs 1.9 crore in proceeds of crime (PoC) from June 2022 from Falisha Technoworld LLP, a company associated with Sirazi. Out of this amount, Rs 1.4 crore, sourced from illegal drug operations, was reportedly strategically invested by Oza into expanding his cloud kitchen and restaurant ventures.

The prosecution complaint alleges that Oza utilized funds generated from the illegal trafficking of psychotropic medicines by Shirazi to fund his restaurant businesses to convert laundering tainted funds as legitimate revenue.Oza collaborated with celebrities, including actor Shiv Thakare and Tajikistan singer Abdu Rozik, known for his stint in Bigg Boss 16, to establish "Thakre Chai and Snacks" and the upscale burger heaven "Burgir Restaurant" under his flagship entity, Hustlers Hospitality.The prosecution complaint alleged that Oza disbursed substantial amounts in cash as advances and royalties to these celebrities, bypassing legal financial channels for various business transactions and endorsement campaigns for these dining establishments.   

 Forensic analysis of Sirazi's accountant Siddhi Ganesh Jamdar's mobile phone and statements from Sirazi himself allegedly corroborate Oza's involvement in the scheme. The ED's investigation has highlighted discrepancies in the financial dealings of Hustlers Hospitality, pointing to the utilization of PoC in revenue generation and personal remuneration. According to the ED investigation facts and evidences, it is evident Krunal Oza despite having knowledge of the source and nature of the funds that were received by him from Aliasgar Shirazi, he assisted Aliasgar Shirazi in laundering of funds earned from illegal trafficking of psychotropic medicines through his  business

The Enforcement Directorate (ED) has frozen the account of Hustlers Hospitality containing Rs 19 lakhs after uncovering the company's involvement in proceeds of crime (PoC) activities totaling Rs 1.9 crore.

During the statement, on being asked about details of returns offered against the said investment by Aliasgar Shirazi in M/s Hustler Hospitality Private Limited, Oza revealed that he offered directorship and salary of Rs 50,000 per month from M/s Hustler Hospitality Private Limited but when the agency asked about copy of agreement done in respect of the investment made by Aliasgar Shirazi in M/s Hustler Hospitality Private Limited, he stated that there was no legal agreement regarding investment made by Shirazi in M/s Hustler Hospitality Private Limited and the agreement was done verbally only. 

The forensic audit revealed that the proceeds of crime (PoC) received from Aliasgar Shirazi enabled Krunal Oza to establish a cloud kitchen in Kol Dongri, Andheri East, starting in August 2022, following Shirazi's investment in June 2022. According to the balance sheet of M/s Hustlers Hospitality Private Limited for the financial year ending on March 31, 2023, total revenue amounted to Rs 40.49 lakh, more than double the Rs 19.19 lakh recorded in FY 2021-2022. During FY 2022-2023, Krunal Oza drew a salary of Rs 10.50 lakh as per his Income Tax Return (ITR).Furthermore, the revenue generated through the "Burgiir" restaurant since its inception (in FY 2023-2024) also stems from the use of PoC. 

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