New Delhi, Oct 10 (UNI) The Enforcement Directorate (ED) has conducted searches at nine locations in Mumbai to trace the proceeds from drug sales acquired by a well-established trafficking network run by Faisal Javed Shaikh and Alfiya Faisal Shaikh, an officer said today.
During the operation on Wednesday, the ED seized approximately Rs 42 lakh in cash, three second-hand luxury vehicles (including two BMWs) and various incriminating documents such as property details and digital devices. Additionally, one bank locker and several bank accounts suspected of holding proceeds of crime were frozen.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA) based on a case registered by the Narcotics Control Bureau (NCB), Mumbai Zonal Unit. The NCB’s case targets individuals, including Ashik Varis Ali, Nasir Khan, Faisal Javed Shaikh, Alfiya Faisal Shaikh and others for their involvement in a drug syndicate operating in Mumbai, Maharashtra.
According to the ED, Faisal Shaikh purchased MD (a synthetic drug) from Salim Dola, a notorious drug kingpin who is currently wanted by law enforcement agencies. The NCB has announced a reward for information leading to Dola’s arrest.
After being granted bail in the NCB case, Faisal Shaikh, a habitual offender, was subsequently placed in preventive detention under the PIT-NDPS Act.
The ED’s investigation revealed that Faisal Shaikh and Alfiya Shaikh operated a well-organised network for the sale of drugs acquired from Salim Dola. The recent searches also extended to premises linked to shell companies involved in paper transactions exceeding Rs 100 crore, as well as firms making foreign outward remittances.
The goal was to ascertain the role of these entities in layering the proceeds of crime generated from drug sales and potentially sending them abroad.
These ED searches were crucial for tracing both the “forward linkage” (the movement of drug sale proceeds) and the “backward linkage” (the sources, beneficiaries, and conduits of the funds). The investigation is examining whether these proceeds were channelled overseas through hawala routes, shell companies, or trade-based money laundering, like mis-invoicing.
The seized assets, including cash, bank accounts, the locker, vehicles, property documents and digital devices, are now being examined for evidence of money laundering. Further investigation is on.
