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Hawala kingpin Naresh to be booked under PML, Passport Acts

Last Updated: Monday, December 7, 2009 - 22:07

New Delhi: Alleged hawala kingpin Naresh
Kumar Jain, arrested for allegedly laundering drug money and
financing narcotics cartels, is likely to be booked under the
Prevention of Money Laundering Act soon.

Arrested by the Narcotics Control Bureau, Jain, alleged
to have laundered money for global terrorist Dawood Ibrahim,
was also likely to be booked for violations of the Passport
Act also, official sources said.

Jain, earlier arrested in Dubai two years back following
a sting operation by American and European security agencies
and had jumped bail, is understood to have told interrogators
about his alleged involvement with international drug cartels.

The sources said he has given statement under Section 27
(A) and 24 of the NDPS Act, which is admissible in court.

Jain was arrested on Sunday following a joint operation
by the NCB and the Enforcement Directorate, which had booked
him in September under Foreign Exchange Management Act.

The ED had then described him as the "undisputed hawala
king" who is alleged to have illegal payment network of over
Rs 5,000 crore.

Jain after jumping bail in Dubai had come to India via
Nepal in February this year as his passport was confiscated
and hence is also likely to be booked under the Passport Act
too since anyone who goes out of the country through a
passport has to come back the same way as per rule, the
sources said.

Directorate of Revenue Intelligence besides central
security agencies are also being roped in to investigate the
network of the "big catch".


First Published: Monday, December 7, 2009 - 22:07
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