ED sleuths are recording the assertion of the individuals lined within the searches ‘to unravel the supply of big credit and debits of their accounts
New Delhi: The Enforcement Directorate on Saturday performed a number of raids in Kashmir in reference to a money-laundering probe linked to alleged suspicious transactions within the J&Ok Bank.
The central probe company lined a complete of seven areas — six in Srinagar and one in Anantnag district — as a part of the searches performed underneath the Prevention of Money Laundering Act (PMLA).
The ED mentioned it raided Mohd Ibrahim Dar, Murtaza Enterprises, Azad Agro Traders, M&M Cottage Industries, and Mohd Sultan Teli who’re “involved” within the hospitality and agro-based industries, civil development, and actual property companies.
“The searches resulted in the recovery of evidence of money laundering as the bank accounts have been found to be used for routing suspicious transactions,” it mentioned.
The ED is probing the case after finding out an earlier FIR filed by the CID of the UT Police in Srinagar towards officers of J&Ok Bank, unidentified public servants, non-public individuals, and others for suspicious transactions in numerous financial institution accounts.
The CID FIR, the ED mentioned, alleges that financial institution accounts had been used for routing cash of public servants in addition to some non-public events.
Certain financial institution officers, in connivance with these public servants, intentionally omitted to boost the alerts as required underneath anti-money laundering norms, the ED mentioned quoting the CID FIR.
The central probe company mentioned its probe “so far has revealed that the transactions in many of these bank accounts maintained with J&K Bank were not genuine and these accounts were utilised for the purpose of laundering”.
ED sleuths are recording the assertion of the individuals lined within the searches “to unravel the source of huge credits and debits in their accounts”.
“Recovered incriminating documents and soft data are also being analysed,” it mentioned.
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