ED raids in Delhi, Mumbai; seizes Rs 29L cash in Dubai-linked hawala racket

NEW DELHI: The Enforcement Directorate (ED) raided multiple locations in Delhi and Mumbai in connection with a Rs 700 crore Dubai-linked hawala trade racket and seized Rs 29 lakh cash and a number of documents, the agency said Tuesday.

The searches, that began yesterday at 11 locations in the two metro cities, ended today, it said.

The raids, it said, were linked to the businesses and alleged illegal financial transactions linked to a Dubai-based hawala operator Pankaj Kapur. He is already being probed by the central probe agency in a hawala case to the tune of Rs 3,700 crore.

“Preliminary enquiry revealed that hawala transactions are being carried by one of his (Kapur’s) Indian company– Ms Radhika Gems Pvt Ltd — by collecting money in cash in India and transferring the same to the companies abroad against the payment of import of diamonds.

“These overseas companies have been prima facie found to be owned and controlled by Pankaj Kapur only,” the Enforcement Directorate said in a statement. (AGENCIES)


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