Probe into money trail of hawala kingpin at crucial stage: ED
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Last Updated: Monday, January 04, 2010, 22:06
New Delhi: Enforcement Directorate (ED) today informed a Delhi court that the probe into the money trail of alleged hawala kingpin Naresh Kumar Jain was at the "crucial" stage.

"Probe against Jain is pending and has reached a crucial stage. A number of persons are still to be examined in addition to the collection of evidence from a number of institutions and agencies," Naveen Kumar Matta, special prosecutor for ED, told the court.

Meanwhile, District and Sessions Judge P S Teji, whose court is a designated court under the Prevention of Money Laundering Act (PMLA), remanded Jain in 14 days judicial custody till January 18. Jain, who was earlier quizzed for 11 days in custody by the ED officials, was produced before the court on the expiry of his judicial custody.

The ED had lodged a case against Jain under various provisions of the PMLA following his arrest by the Narcotics Control Bureau (NCB) on December 6 for allegedly financing and transporting narcotic drugs.

The possibility of the accused leaving the country cannot be ruled out as he had entered India from Dubai through Nepal on forged travel documents, the prosecutor said.

The accused is involved in a very serious crime of laundering proceeds of narcotics drugs to various parts of the world including India, the prosecutor said.


First Published: Monday, January 04, 2010, 22:06

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