Two More Arrests Made in Malegaon Money-Laundering Case

The investigation into the alleged misuse of Malegaon residents’ bank accounts for money laundering has been intensified with two more arrests made by the Enforcement Directorate (ED). The accused, identified as Mohsin Ahmed Khilji and Sharif Miya Shaikh, were detained on Thursday and subsequently presented before a special court on Friday. They have been remanded to ED custody until January 8 to facilitate further inquiries.

The case has already resulted in three previous arrests, bringing the total number of individuals in custody to five. It has been revealed by officials that Khilji and Shaikh were linked to shell companies allegedly used to funnel illicit funds. Their arrest occurred at Ahmedabad airport, where an attempt to flee the country was reportedly intercepted.

Details shared by the ED have indicated that two entities, Hardik Enterprise and Haresh Trading, were set up under the pretense of an Agricultural Produce and Livestock Market Committee (APMC) scheme. Funds from 19 misused bank accounts were alleged to have been funneled into these companies. Statements recorded from the proprietors of these entities suggested that the accounts were opened under the instructions of Ritesh Shah and Gaurang Parmar. These individuals, along with the arrested men, were claimed to have been operating under the directives of Abdul Samad Bhagad, also referred to as Challenger King, who has been identified as the mastermind behind the operation.

It was further disclosed that, upon learning about searches being conducted in connection with the case, the destruction of mobile phones belonging to Shah and Parmar was arranged by Khilji and Shaikh. The accused were said to have fled to Bangkok shortly after but returned to India within a few days. Another attempt to leave the country, this time to Dubai, was reportedly made on January 2, but the attempt was thwarted, and they were apprehended at the airport.

Custody of the two accused has been granted to the ED by Special Judge A. C. Daga, allowing further investigation into the operation, which has been described as involving the laundering of crores of rupees. The ED’s probe is expected to uncover additional details as the case progresses.