Mumbai: The Enforcement Directorate (ED) on Thirsday launched a major crackdown across Maharashtra and Gujarat in a high-stakes money laundering probe of a Malegaon-based trader, accused of misused bank accounts of various people to carry our transactions worth more than Rs 100 crore. The accused, identified as Siraj Ahmed has opened accounts of 12 unemployed youths to carry out illicit transactions.

As per the statement released by the ED, Ahmed had collected Aadhar and Pan cards of the youngsters on pretext of securing jobs at Malegaon market committee and opened shell companies for banking transactions in the accounts of the unsuspecting youngsters.

The magnitude of the money-laundering case can be understood as the ED's 24 searches included key cities like Malegaon, Nashik, and Mumbai in Maharashtra and Ahmedabad and Surat in Gujarat. The charges are pressed under relevant sections and an FIR is registered by Malegaon Police against the local trader, Siraj Ahmed Harun Meman.

As per preliminary information, the ED raids are being conducted at 13 premises in Ahmedabad, 3 locations in Surat, 2 places in Malegaon, and 5 locations each in Nashik and Mumbai.

The FPJ had reported the Mysterious deposits of over Rs 12-15 crore each in the accounts of 12 unemployed youths totalling over Rs 125 crore in Malegaon Merchant Bank, Nashik last week.

The sudden influx of huge deposits in the cooperative bank after the announcement of the assembly elections in Maharashtra led the Nashik Rural police to launch probe into the source of the funds and motives behind the irregularities.