ED Raid: The Enforcement Directorate (ED) on Wednesday said it has launched raids against a man accused of extortion, murder and liquor smuggling in Gujarat, Maharashtra and Daman. During the raid 1.42 seized Rs 100 million in cash, mostly notes of the denomination of Rs 2,000. The probe agency said in a statement that Suresh Jagubhai Patel and his associates had nine residential properties located in Daman and Valsad in Gujarat. and on commercial premises 08 The raids were conducted under the Prevention of Money Laundering Act (PMLA) on June. ED said Suresh Jagubhai Patel and his associates- Ketan Patel, Vipul Patel and Miten Patel in Daman is in judicial custody in connection with the double murder.

1.35 Cash recovered in crores The ED said the money laundering case against Patel and his associates involved repression, corruption in Gujarat and Mumbai, recovery of illegal arms, murder, attempt to murder, extortion, liquor smuggling, robbery, assault on public servants and passport forgery registered in other crimes including stems from the FIRs. The probe agency said that as a result of the raids 1.55 Cash worth Rs 1 crore was recovered, including an amount of more than Rs 1 crore 2, is in notes of the denomination of Rs.

Suspicious papers recoveredED said that apart from , 100 From Incriminating documents regarding companies, establishments and cash transactions have been recovered along with more property related documents and keys of three bank lockers. The Reserve Bank of India (RBI) has recently has announced to withdraw the note of Rs. However, people are not allowed to deposit such notes in accounts or exchange them with the bank Time has been given till September.

The ED alleged that the accused had created a web of companies and most of these were “not carrying on business or carrying very little business”. He claimed that the sole purpose of forming these companies was “to launder money illegally obtained from criminal activities”.

The Federal Investigation Agency found that in the bank accounts of Suresh Patel, members of his family and companies controlled by him “100 Cash deposits of more than Rs. Suresh Patel of liquor smuggling in Gujarat cases, seven cases of forgery and cheating, eight cases of murder or attempt to murder, five cases of possession of illegal arms and is accused in a corruption case.

)ed raidMoney LaunderingPublished Date

Wed, Jun 21, 2023, 2: 05 PM IST