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ED officials told Local18 that several people have been detained in connection with the case. The searches led to the seizure of substantial evidence including documents and electronic data linking the accused to illegal financial transactions. The agency has not yet revealed the names of those arrested or the hawala operators involved, as more prominent individuals are reportedly under the scanner.
action under FEMA
The ED recently received a list of persons suspected to have invested unaccounted money in Dubai. A formal case was registered under the Foreign Exchange Management Act (FEMA), following which a massive search operation was conducted today.
During the raids, the agency targeted several hawala operators with deep networks in Delhi-NCR, Goa and Dubai. Officials said the seized electronic evidence will be analyzed to trace the money transactions and identify all those involved in sending money abroad through illegal means.
The ED has also prepared a list of Indian nationals who are believed to have made huge investments in real estate in Dubai through hawala. Sources said summons will soon be issued to the named people, who will be called to the ED headquarters in Delhi for questioning.
Officials said the investigation is ongoing and the scope of the probe is expected to expand as more evidence emerges about cross-border financial ties and undeclared foreign holdings.
(edited by : Priyanka Rathi,