NEW DELHI: The Enforcement Directorate on Saturday carried out a number of raids in Kashmir in reference to a cash laundering probe linked to alleged suspicious transactions within the J&Okay Financial institution.
The central probe company coated a complete of seven locations– six in Srinagar and one in Anantnag district– as a part of the searches carried out underneath the Prevention of Cash Laundering Act (PMLA).
The ED stated it raided Mohd Ibrahim Dar, Murtaza Enterprises, Azad Agro Merchants, M & M Cottage Industries and Mohd Sultan Teli who’re “concerned” within the hospitality and agro-based industries, civil development and actual property companies.
“The searches resulted within the restoration of proof of cash laundering because the financial institution accounts have been discovered for use for routing suspicious transactions,” it stated.
The ED is probing the case after learning an earlier FIR filed by the CID of the UT Police in Srinagar in opposition to officers of J&Okay Financial institution, unidentified public servants, non-public individuals and others for suspicious transactions in numerous financial institution accounts.
The CID FIR, the ED stated, alleges that financial institution accounts had been used for routing cash of public servants in addition to some non-public events.
Sure financial institution officers, in connivance with these public servants, intentionally omitted to boost the alerts as required underneath anti-money laundering norms, the ED stated quoting the CID FIR.
The central probe company stated its probe “thus far has revealed that the transactions in lots of of those financial institution accounts maintained with J&Okay Financial institution weren’t real and these accounts had been utilised for the aim of laundering.”
ED sleuths are recording the assertion of the folks coated within the searches “to unravel the supply of giant credit and debits of their accounts”.
“Recovered incriminating paperwork and gentle knowledge are additionally being analysed,” it stated.
