The Enforcement Directorate (ED) recently conducted widespread raids across Maharashtra and Gujarat in connection with a money laundering investigation involving suspicious transactions worth Rs.80-90 crore. The raids, which took place on Thursday and continued late into the night, targeted over 16 locations, including cities like Malegaon, Nashik, Mumbai, Ahmedabad, and Surat.
The Enforcement Directorate (ED) is investigating Siraj, a Malegaon-based trader accused of misusing several bank accounts for unauthorized transactions.The ED froze ₹1.8 crore from two accounts and is investigating potential hawala links to trace beneficiaries and transactions.
The scam involves large sums of money, including ₹14 crore transferred through one of the accounts. Additionally, Siraj allegedly took out a fixed deposit of ₹2 crore without the knowledge of the account holder. The ED is continuing to trace the full extent of the fraudulent activities
The ED’s ongoing investigation aims to unravel the full extent of the fraud and identify all those involved in the money laundering operation
 recently conducted widespread raids across Maharashtra and Gujarat in connection with a money laundering investigation involving suspicious transactions worth Rs.80-90 crore.){kind=link}