ED conducts searches at seven locations in Jammu and Kashmir in connection with suspicious transactions in J&K Bank
Srinagar: The Directorate of Enforcement (ED) on Saturday (November 21, 2020) carried out searches at seven locations throughout Jammu and Kashmir beneath the provisions of Prevention of Money Laundering Act, 2002 (PMLA) in a case referring to suspicious transactions in J&Ok Bank.
The ED carried out raids at six areas in Srinagar and one in Anantnag district.
The ED initiated investigation beneath PMLA after CID, CIK Srinagar registered FIR in opposition to financial institution officers of J&Ok Bank, unidentified public servants and personal individuals and others for suspicious transactions in numerous financial institution accounts.
The ED stated that it has been alleged within the FIR that the financial institution accounts had been used for routing cash of public servants in addition to some personal events.
“Further, bank officials, in connivance with these public servants, deliberately omitted to raise the alerts as required under Anti-Money Laundering (AML) norms. The investigations conducted under PMLA so far have revealed that the transactions in many of these bank accounts maintained with J&K Bank were not genuine and these accounts were utilized for the purpose of laundering,” stated ED.
They added, “On the basis of specific information, searches at seven places belonging to Mohd Ibrahim Dar, Murtaza Enterprises, Azad Agro Traders, M & M Cottage Industries and Mohd Sultan Teli were conducted which resulted in the recovery of evidence of money laundering as the bank accounts have been found to be used for routing suspicious transactions. The parties covered under searches are involved in Hospitality and Agro-based Industries, civil construction and real estate.”
“Statement of persons covered in the searches are being recorded to unravel the source of huge credits and debits in their accounts. Recovered incriminating documents and soft data are also being analysed,” said ED.
Further investigation is beneath progress.
Live TV
$(function() { return $("[data-sticky_column]").stick_in_parent({ parent: "[data-sticky_parent]" }); });
reset_scroll = function() { var scroller; scroller = $("body,html"); scroller.stop(true); if ($(window).scrollTop() !== 0) { scroller.animate({ scrollTop: 0 }, "fast"); } return scroller; };
window.scroll_it = function() { var max; max = $(document).height() - $(window).height(); return reset_scroll().animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
window.scroll_it_wobble = function() { var max, third; max = $(document).height() - $(window).height(); third = Math.floor(max / 3); return reset_scroll().animate({ scrollTop: third * 2 }, max * 3).delay(100).animate({ scrollTop: third }, max * 3).delay(100).animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
$(window).on("resize", (function(_this) { return function(e) { return $(document.body).trigger("sticky_kit:recalc"); }; })(this));
}).call(this);
} on_load_google_ad(); function sendAdserverRequest() { try { if (pbjs && pbjs.adserverRequestSent) return; googletag.cmd.push(function() { googletag.pubads().refresh(); }); } catch (e) {
googletag.cmd.push(function() { googletag.pubads().refresh(); }); } } setTimeout(function() { sendAdserverRequest(); }, 5000);
function on_load_fb_twitter_widgets(){ (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));
window.twttr = (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], t = window.twttr || {}; if (d.getElementById(id)) return t; js = d.createElement(s); js.id = id; js.src = "https://platform.twitter.com/widgets.js"; fjs.parentNode.insertBefore(js, fjs); t._e = []; t.ready = function(f) {
t._e.push(f); }; return t; }(document, "script", "twitter-wjs")); }
//setTimeout(function() { on_load_google_ad(); }, 5000); setTimeout(function() { on_load_fb_twitter_widgets(); }, 5000);
Source