Tuesday, September 22, 2020
Home National ED arrests Hawala Kingpin Naresh Kumar Jain

ED arrests Hawala Kingpin Naresh Kumar Jain

On Wednesday, the Enforcement Directorate (ED) arrested India’s Hawala Kingpin Naresh Kumar Jain. He is an illegal money mover working with the underworld. He is ‘wanted’ in six countries – the US, the UK, Italy, Spain, the Netherlands and the UAE. Jain allegedly transferred illegal money worth Rs. 1 lakh crore to several businessmen, drug mafia and other criminal networks for the last 5-6 years. ED found more than 942 bank accounts and 554 shell companies of Jain through which he moved illegal money. At least 337 foreign bank accounts, largely based in Hong Kong, Dubai and Singapore were traced through which huge transfers were made over the years.

Read More – Hindustan Times | National Business Mirror | Live Hindustan

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