Probe into money trail of hawala kingpin at crucial stage: ED
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.
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
"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.