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Enforcement Directorate busts multi-crore hawala racket | Enforcement Directorate has busted a Hawala transaction racket worth thousands of crores of rupees here after it seized incriminating documents during raids
carried out at eight different locations linked to non-resident Indian (NRI) businessman
Naresh Jain on Thursday. About six million rupees have also been recovered
from Naresh's premises during the raid. He had shifted his base to Delhi from
Dubai about six months ago. The seized documents suggest Naresh Jain was into
drugs business, which was spread to Pakistan and Afghanistan. It also looks that
the drugs business could have been spread over Dubai, Nigeria, China and Bolivia.
Besides, the probability of his links with the D Company of Underworld Don Dawood
Ibrahim have not been ruled out, said a Zee News report. Hawala Kingpin Naresh
has been booked under provisions of Foreign Exchange Management Act (FEMA), said
Times Now report. Though Naresh has not yet been arrested and a Look-Out notice
is likely to be issued to prevent him from leaving the country. Whether the money
being transacted by Naresh was linked to terrorism in Pakistan and Afghanisatn
is also being probed, Zee News quoted sources as saying. Meanwhile, the Home Ministry
has been informed about the case and preparations are underway to issue the notice.
Initial reports could not confirm if the raids were limited to venues located
in the national capital. |
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