Mumbai: ED conducts searches at seven different locations in money laundering probe

Kailash Rajput (L) and Ali Asgar Shirazi (R)

The Enforcement Directorate (ED) conducted searches at seven different locations in Mumbai on Monday as part of their investigation into money laundering allegations related to a drug smuggling case involving alleged drug lord Ali Asgar Shirazi. Shirazi, who is believed to have strong ties with the wanted drug syndicate leader Kailash Rajput, is accused of smuggling drugs worth more than Rs 200 crore to Europe and Australia. The Mumbai crime branch previously uncovered a significant drug syndicate, leading to the arrest of seven individuals and the seizure of a substantial amount of Ketamine and Viagra tablets.

In light of the findings by the crime branch, the Enforcement Directorate recently initiated an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA). During their recent raids, the ED team visited various locations, including the premises of Mehreen Aliasgar Shirazi, the wife of Ali Asgar Shirazi, where they recovered cash and documents. Additionally, they searched Pan Liner Freight Forwarders Private Limited and Hustlers Hospitality Private Limited, uncovering crucial documents implicating the individuals involved.

The documents seized during the raids are currently under scrutiny, and preliminary statements have been taken from those involved. Individuals linked to the companies under investigation have been requested to explain suspicious transactions at the ED office. According to credible sources within the Enforcement Directorate, companies associated with Ali Asgar Shirazi are suspected of having ties to the Kailash Rajput drug syndicate, with allegations of drug money being invested in various businesses. Shirazi played a significant role in managing Rajput's drug operations in India, including the production and distribution of Ketamine for the European market.

The investigation unveiled more than 70 instances of drug shipments abroad, further implicating Shirazi in Rajput's network. His arrest occurred in March 2023 when he attempted to flee to Dubai during the apprehension of an 8-crore drug consignment by the crime branch where drugs were supplied to Australia, New Zealand, and the European countries.

The Enforcement Directorate's probe exposed the use of multiple shell companies by Ali Asgar Shirazi to funnel drug money into various businesses. One such company, Hustlers Hospitality Private Limited, saw Shirazi becoming an Additional Director in exchange for substantial funding provided to Krunal Ojha and his father, Dinesh Ojha. Pan Liner Freight Forwarders Private Limited also received considerable investments from Shirazi and his wife. Moreover, Shirazi and his wife hold positions in FALISHA TECHNOWORLD, where they channeled funds into other shell companies, effectively laundering drug money into legitimate business assets. The Mumbai crime branch has recently arrested Kamal Rajput brother of the drug lord Kailash Rajput who is believed to be in London.