ED’s investigation is underway to track other overseas destinations where these proceeds were invested and diverted
In a major achievement, the Enforcement Directorate (ED) team probing different cases of financial money laundering in West Bengal has been able to crack certain crucial overseas hawala links playing vital roles in diverting scam proceeds outside the country.
Sources aware of the development said that the overseas hawala links mainly operated in the Kolkata-Mumbai-Dubai route, where Kolkata was the source of the proceeds generation and Dubai was its final destination via Mumbai.
Sources said the services of such overseas hawala links were adopted in almost all cases of money laundering that the central agency sleuths are probing, the maximum applications were made in the cash-for-school job case and the ration distribution case.
Sources said the central agency sleuths are quite sure that Dubai was not the only overseas hawala link that was used in proceeds diversion in these alleged scams. Currently, investigations are on to tracking of other overseas destinations where these proceeds were diverted and invested.
The central agency sleuths, sources said, have also been able to identify certain overseas properties where the investments in all probability were made from the scam proceedings.
ED sleuths started investigating on the lines of tracking the overseas hawala links mainly from October this year during their course of probe in the ration distribution irregularities case in West Bengal.
At that point in time, the central agency sleuths had also been able to track a couple of Dubai-based overseas properties in the name of corporate entities linked to Bakibur Rahaman, the Kolkata-based businessman arrested by the ED sleuths in connection with the ration distribution case.
[With Inputs from IANS]
For all the latest updates, download PGurus App.
- BJP drops 2-term sitting MP Poonam Mahajan; fields 26/11 counsel Ujjwal Nikam from Mumbai North Central - April 27, 2024
- RBI sets criteria for Small Finance Banks seeking Universal Banks license - April 27, 2024
- 16 Indian crew members on seized cargo ship to be released soon: Iran Foreign Minister - April 27, 2024
