The Enforcement Directorate (ED) on Saturday raided several locations in Kashmir in a money laundering case involving suspicious transactions at J&K Bank. The Central Investigation Agency conducted a search operation under the Prevention of Money Laundering Act (ED), six in Srinagar district and one in Anantnag district.
The ED said it took action against Mohammad Ibrahim Dar, Murtaza Enterprises, Azad Agro Traders, M&M Cottage Industries, and Mohammad Sultan Teli at the bases. Teli is involved in hospitality and agro-based industries, civil construction, and real estate businesses.
Their bank accounts were raided to collect evidence of money laundering on charges of being used in suspicious transactions. The ED is investigating the case of suspicious transactions in various bank accounts against J&K bank officials, unknown government officials, private individuals, and others after studying the FIR lodged by the CID of the Union Territory Police.