Daijiworld Media Network - Indore
Indore, Sep 19: The Directorate of Enforcement (ED), Indore Sub-Zonal Office, has provisionally attached immovable properties in Hyderabad and Mandsaur with a combined value exceeding Rs 90 lakh in a money-laundering case linked to the trafficking of commercial quantities of Mephedrone (MD), an official statement said on Saturday.
The action was taken under the Prevention of Money Laundering Act (PMLA) based on FIRs registered by the Crime Branch, Indore, against Ved Prakash Vyas, Dinesh Agarwal, Akshay Agarwal and others under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985.
According to the ED, the scheduled offence involves the illicit possession and trafficking of Mephedrone valued at approximately Rs 70 crore.
The financial investigation under the PMLA allegedly revealed that the accused generated substantial proceeds of crime through illicit narcotics trafficking, primarily in cash. The funds were subsequently routed through multiple personal and business bank accounts.
The probe also uncovered significant cash transactions, which the agency said indicated systematic placement, layering and concealment of the alleged proceeds of crime.
Statements recorded during the investigation further established, according to the ED, the involvement of the accused in the supply and trafficking of narcotic drugs alongside their regular business activities.
Earlier, on July 17, the ED had conducted searches at multiple premises across Indore and Mandsaur in Madhya Pradesh. Three persons were arrested in connection with the case and continue to remain in judicial custody, officials said.
The provisional attachment of the immovable properties is aimed at securing the alleged proceeds of crime generated from the narcotics trade, the officials said.
The ED is continuing its investigation to identify additional assets and determine the full extent of the alleged money-laundering network linked to the drug trafficking operations.
Further investigation is in progress.