Mumbai, February 16 – The Enforcement Directorate's (ED) Mumbai Zone has provisionally attached seven immovable properties, including flats in Mumbai, valued at approximately ₹5.88 crore, in connection with a case related to money laundering under the NDPS Act, an official statement said on Monday.
The properties attached under the provisions of the Prevention of Money Laundering Act (PMLA) include Faisal Shaikh, Alfiya Shaikh, and others.
The investigation was initiated based on a complaint filed by the NCB, Mumbai, under various sections of the NDPS Act. It revealed that Faisal Shaikh, one of the main accused, allegedly procured the prohibited drug Mephedrone (MD) from Salim Dola, a notorious drug kingpin.
According to the ED, Faisal Shaikh and his wife, Alfiya, had established a well-organized network for the sale of MD. They allegedly supplied the drug to Samiya Khan, Nasir Yasin Khan, Azim Abu Salim Khan alias Azim Bhau, and others, who in turn distributed it to retail customers.
The investigation found that Faisal and Alfiya Shaikh deposited cash generated from the illegal drug trade into their personal bank accounts to project it as legitimate income.
The accused also allegedly used companies opened in their own names and in the names of associates to integrate the proceeds of crime, despite these entities having no genuine business activities, the ED said.
Further investigation revealed that cash proceeds from drug sales were handed over to close associates, including Faizan Mohd Shafi Shaikh. Through his proprietorship concern, M/s Faiz Impex, Mumbai, and with the help of other associates, the funds were routed through multiple bank accounts, including those of shell companies, to layer and conceal the money trail.
A portion of the laundered funds was allegedly diverted back into the bank accounts of the main accused and their family members, associates, and subsequently used for the purchase of immovable properties.
Earlier, on October 8 last year, the ED conducted search operations under the PMLA, during which cash worth ₹42 lakh, jewellery weighing 1.6 kg valued at around ₹1.76 crore, three second-hand luxury vehicles worth about ₹56 lakh, and 12 bank accounts of the accused were seized or frozen.
The ED said that the money trail established by Faisal and Alfiya Shaikh has been mapped in a flowchart. Further investigation is underway.