NEW DELHI: In one of the biggest money laundering cases registered by it so far, the Enforcement Directorate has started attachment of assets of people associated with main accused Naresh Jain, a hawala dealer. Jain and his associates earned Rs 565 crore just through commissions by laundering thousands of crores in black money of businessmen, bureaucrats and politicians over the past few years.
Jain is wanted by the police of four countries Italy, the UK, the US and UAE and has been accused by the agency of circular transactions of more than Rs 95,000 crore black money belonging to some high net-worth individuals. He made transfers of at least Rs 18,000 crore of black money to foreign bank accounts which was later handed over to “beneficiaries” through their overseas contacts, according to sources in ED.