ED Raids in Maharashtra, Gujarat in Malegaon Trader Bank Accounts 'Fraud' Case

Mumbai: Enforcement Directorate on Thursday raided multiple locations in poll-bound Maharashtra and neighbouring Gujarat as part of a money laundering probe against a Malegaon-based trer who allegedly misused bank accounts of various people to carry our transactions worth more than Rs 100 crore.

federal agency is searching 23 premises in Malegaon, Nashik and Mumbai in Maharashtra and Ahmedab and Surat in Gujarat under provisions of Prevention of Money Laundering Act (PMLA).

Polls for 288 assembly seats in Maharashtra are slated to be held in a single phase on November 20.

money laundering case stems from a Malegaon Police FIR filed last week against a local trer named Siraj Ahmed Harun Meman, who runs a tea and cold drinks agency apart from some of his associates.

complainant in case is a man whose bank account was allegedly misused for illegal transactions triggering speculation that accounts were misused for routing election funds.

It is alleged that main accused took KYC details of about a dozen people to open bank accounts in Nashik Merchant Cooperative Bank as he told se persons that he wanted to start a corn business and hence needs to take money from farmers.

accused allegedly got opened two more accounts taking KYC documents from his friends. se 14 accounts were opened between September and October, according to sources.

ED has found debit and credit entries worth more than Rs 100 crore each and is now conducting searches to get more evidence, including role of some Hawal operatives, sources said.

agency suspects that accused may be using se funds to divert and route funds for some people by misusing banking credentials of common people and using m as mule accounts.

angle of misusing accounts for electoral malpractice are also been looked at. However, no such inputs have been gared so far, sources said.