ED raids 6 locations in Srinagar, one in Anantnag | India News – Times of India

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SRINAGAR: The Enforcement Directorate conducted searches on Saturday at seven places in Kashmir in a case relating to suspicious transactions in J&K Bank.
According to an ED statement, its sleuths, along with the Srinagar CID’s counter-intelligence department, raided six locations in Srinagar city and one place in Anantnag, south Kashmir.
“ED initiated an investigation under the PMLA after CID, CIK Srinagar registered an FIR against officials of J&K Bank, unidentified public servants and private persons and others for suspicious transactions in various J&K bank accounts,” the statement said.
“The bank accounts were used for routing money of public servants as well as some private parties. Further, bank officials, in connivance with these public servants, deliberately omitted to raise alerts as required under anti-money-laundering norms, according to the FIR,” the statement said.
The statement claimed that investigations so far have revealed that the transactions in many of these J&K Bank accounts were not genuine and that these accounts were utilised for the purpose of laundering money.
The ED said that acting on specific information it had searched places “belonging to Mohammed Ibrahim Dar, Murtaza Enterprises, Azad Agro Traders, M&M Cottage Industries and Mohammed Sultan Teli, resulting in the recovery of evidence of money-laundering”.
“The parties covered under the searches are involved in hospitality and agro-based industries, civil construction and real estate,” the statement said.
The ED said the statements of the people covered in the searches were recorded to unravel the source of credits and debits of huge amounts in their accounts, adding that recovered “incriminating documents and soft data” are being analysed.

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