Over ₹100 Crore Deposited in Fake Accounts
The Enforcement Directorate (ED) has arrested Nagani Akram Mohammad Shafi in connection with an alleged cash-for-vote case. Shafi was intercepted at Ahmedabad Airport by immigration authorities while attempting to flee to Dubai. Officials confirmed a Look Out Circular (LOC) had been issued against him.
The case originated from an FIR registered on November 7 at the Malegaon Chawani Police Station in Maharashtra’s Nashik district. The complaint highlighted suspicious deposits exceeding ₹100 crores across 14 accounts newly opened with Nashik Merchant Co-operative Bank (NAMCO Bank), Malegaon.
Jayes Lotan Misal, the complainant, alleged that Siraj Ahmed Mohammad Harun Memon and his associates used stolen identity documents, including those of Misal and his brother Ganesh Misal, to create shell entities and open bank accounts in their names. The accounts were reportedly used for massive financial transactions, including circular transactions worth hundreds of crores, and to make term deposits.
According to Misal’s complaint, Siraj Ahmed obtained identity documents from various individuals under the pretense of offering financial aid or employment. These documents were then misused to open fraudulent bank accounts. Siraj Ahmed also acquired new SIM cards in the names of these individuals, which were linked to the fraudulent accounts to maintain control and operation.
Officials said these accounts facilitated large financial transfers, including ₹14 crore, which was funneled through hawala channels under Shafi’s instructions.
ED investigations revealed that Shafi was a key figure directing Siraj Ahmed in establishing and operating the 14 accounts at NAMCO Bank. Shafi allegedly issued instructions for financial operations, including the ₹14 crore hawala transfer.
“Based on this evidence, an LOC was issued against Nagani Akram Mohammad Shafi,” officials stated. His arrest marks a significant development in unraveling the network involved in the cash-for-vote case.
The ED continues its investigation into the case, focusing on the financial trail and other potential collaborators.
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