Mumbai: In the ongoing investigation into a Rs 125 crore money laundering case linked to Malegaon, arrested accused Siraj Mohammad has revealed startling details about the illicit financial dealings. Mohammad disclosed that a sum of Rs 14 crore, withdrawn from Nashik Merchant Co-operative Bank (NAMCO Bank) in Malegaon, was transferred to Mumbai through a hawala channel by Milan Kumar Popatbhai Patel, the second arrested accused and accompanish.

The Malegaon District Court has extended Siraj Mohammad's police remand until November 25 for further investigation. During the court proceedings, the Chavani police in Malegaon revealed they have now identified eight additional individuals, including a bank employee, implicated in the conspiracy. The Enforcement Directorate (ED) is also intensifying its investigation into the sprawling money laundering operation.

In a dramatic turn of events, the ED successfully apprehended Akram Mohammad Shafi, one of the masterminds behind the illegal scheme, at Ahmedabad Airport. Shafi was caught by immigration authorities while attempting to flee to Dubai, a move that came after a Look Out Circular (LOC) had been issued against him due to his involvement in the money laundering scheme.

According to investigation the Rs 14 crore transferred from Malegaon to Mumbai was received by a man named Sagar, alias Qadir Bhagad, who was acting on behalf of the arrested accused Akram Mohammad Shafi. However, in a surprising twist, it was later revealed that the actual recipient of the money in Mumbai was Sheikh Shehzad, an employee of Jafar Bhai Nabinwala in Andheri. Sources indicate that Jafar Bhai, a close associate of Shafi, is currently being sought by the agency and Malegaon police. Officials also revealed that the arrested accused, Siraj Mohammad, had been strategically trained by Shafi to mislead investigators and obscure the money trail.

According to officials from the financial probe agency, the arrested accused, Akram Mohammad Shafi, along with the absconding accused, Bessaniya Vali Mohammed from Surat, is allegedly believed to have orchestrated the opening of several shell companies to launder illicit funds. The agency has uncovered that Shafi instructed the arrested accused, Siraj Mohammed, to open more than 14 bank accounts at NAMCO Bank, which were operated by Siraj under Shafi’s direction. On Shafi's instructions, the Rs 14 crore was withdrawn by Shafi and his accomplices and transferred to Mumbai through an angadia.

An examination of the bank statements of the complainant and witness for their NAMCO Bank account has revealed that Siraj Mohammad allegedly opened bank accounts under the names of Blaz International and Fairbean International at Axis Bank, Malegaon. These accounts are believed to have been set up for international transactions, with ongoing investigations into the specific purposes of these transactions. In a further development, police seized six SIM cards and several ATM cards from his residence. Additionally, the police have issued a formal request for the search of twelve SIM cards that were used to operate these accounts.

In a further twist, the Malegaon Chavani Police uncovered a fraudulent account under the name of Ranjit Bhai Solanki, allegedly linked to Pragati Enterprises, at Axis Bank’s Naranpura branch in Ahmedabad. Ranjit Bhai, during interrogation, revealed that he had been duped by Jayraj Gohel of Othav, Ahmedabad, who obtained his signature under false pretenses. This account was later used for substantial withdrawals by Shafi and Mohammed.

Another fraudulent account was found at the Chandaliya branch of Axis Bank in Ahmedabad, linked to M.K. Enterprises. The account holder, Salman Mirza, is currently untraceable, and the investigation into his involvement is ongoing.

The ED and local police are continuing their investigation into the network of shell companies and accounts used to launder the funds. Authorities are also tracking the money trail, with efforts focused on identifying all individuals involved in the complex syndicate, which spans multiple states and nations.