New Delhi: Cracking down on money being generated from illegal narcotics trade, the Enforcement Directorate has conducted raids across various states involving a top Punjab-based drug dealer.
The raids, under the provisions of the Prevention of Money Laundering Act (PMLA), were conducted in various cities of Punjab, Chandigarh, Noida, Gurgaon and Delhi on the properties of one Raj Kandola alias Ranjit Singh Kandola who is in Tihar Jail at present.
The raids, which began on January 29, ended today.
Kandola, known as `BMW King` in police circles, is under arrest on charges of his alleged involvement in human and drug trafficking businesses. Sleuths say his style of maintaining high-end cars and their use in the drug trade has earned him the sobriquet.
The ED had registered a money laundering case against him last year.
"In preliminary investigations, the agency found incriminating documents about the movable and immovable properties of the accused to the tune of around Rs 30 crore," official sources said.
These properties will be attached under the PMLA as this will ensure denial of these assets to the accused and strengthen criminal cases against him, they said.
Premises of few other associates of Kandola were also searched.
This is the first big action of the central agency against illegal funds generated as proceeds of crime through narcotics trade. Kandola may soon be questioned by the agency, they said.