💨 Abstract

The Enforcement Directorate has conducted raids in Maharashtra and Gujarat as part of a money laundering probe against a Malegaon-based trader. The trader allegedly misused bank accounts of various people to carry out transactions worth over Rs 100 crore. The agency is investigating the potential use of these funds for electoral malpractices and money laundering, and suspects the involvement of Hawala operatives.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖