ED conducted Searches at 13 locations in connection with Money Laundering Case; Cash worth Rs. 2.17 Crore Seized

The Directorate of Enforcement (ED) conducted follow-up search operations on 17.01.2024 at 13 locations in Mumbai, Lucknow, Delhi and Ahmedabad under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with a money laundering case against Drug Trafficker Ali Asgar Shirazi and others.

The ED launched an inquiry into Ali Asgar Shirazi and others based on an FIR filed by Jogeshwari Police Station in Mumbai, citing sections of the NDPS Act of 1985 and the Drugs and Cosmetics Act of 1940.

ED investigation revealed that Aliasgar Shirazi and Ors’ drug syndicate included telecommunication companies running call centres/ websites, logistics companies, consultancy companies, and dummy pharmaceutical companies that illegally shipped opioids from India to foreign countries and routed the proceeds of the sale back to India via various channels.

The search operations have revealed that various companies incorporated in the USA by members of this syndicate have been operating Payment Gateways.

This syndicate utilised the previously mentioned payment methods to transport the proceeds of opioid sales in the United States to India. During the inquiry, it was discovered that there were large financial deposits in accounts associated to Ali Asgar Shirazi and affiliated persons/entities, which appear to be illegal funds gained from the sale of various substances such as ketamine.

During the search, ED seized a total of Rs. 2.17 Crore in FDRs and cash. Further, several digital devices including mobile phones & laptops and incriminating documents related to properties and records of transactions related to opioid medicines were also seized.

The ED detained drug trafficker Ali Asgar Shirazi on January 5, 2024, and the Hon’ble PMLA Court in Mumbai granted ED detention till January 18, 2024.

Moreover, during the investigation of the case, searches were also conducted at 10 locations in Mumbai in the month of October 2023 in which Rs. 62.61 Lakh in cash and valuables and several digital devices including mobile phones and laptops and other incriminating records were seized.

Further investigation is under progress.