Dawood Ibrahim's Brother Refused Bail in Money Laundering Case
A special court denied bail to underworld don Dawood Ibrahim's brother Iqbal Kaskar in a money laundering case, citing a thorough probe is necessary to ensure innocent persons are not booked.
Money LaunderingDawood IbrahimIqbal KaskarShine City PropertiesEnforcement DirectorateReal Estate MumbaiJul 29, 2024
Kaskar was arrested in 2017 in connection with an extortion and MCOCA case registered by the Thane police. Subsequently, the Enforcement Directorate (ED) took his custody in 2022 to investigate a money laundering case based on the FIR. He has been in jail custody since then.
In its order dated July 26, the Special Prevention of Money Laundering Act (PMLA) court observed that the probe agency needs to conduct a meticulous investigation to ensure that all necessary evidence is gathered and analyzed. The court emphasized that this process cannot be hurried or compromised, even if it takes time.
TheェED has been investigating a money laundering case linked to the Shine City Properties fraud, in which Himanshu Kumar was arrested in Lucknow. The investigation revealed a complex Ponzi scheme that defrauded the public by collecting funds for supposed real estate investments. The accused allegedly transferred and diverted money through various entities, with Rs 40 crore funneled to Kumar's controlled companies.
This development is significant in the context of the ongoing efforts to combat money laundering and other financial crimes in India. The ED and other law enforcement agencies have been working tirelessly to identify and prosecute cases of money laundering, which often have links to organized crime and terrorism.
Information Dawood Ibrahim is a notorious underworld don who is wanted in connection with several crimes, including the 1993 Bombay blasts. His brother Iqbal Kaskar has also been accused of involvement in various illegal activities, including extortion and money laundering.
The Enforcement Directorate (ED) is a law enforcement agency responsible for enforcing economic laws and preventing financial crimes in India. The ED was established in 1956 and is headquartered in New Delhi.
The Special Prevention of Money Laundering Act (PMLA) court is a special court set up to try cases related to money laundering and other financial crimes in India.
Frequently Asked Questions
Who is Iqbal Kaskar?
Iqbal Kaskar is the brother of underworld don Dawood Ibrahim and has been accused of involvement in various illegal activities, including extortion and money laundering.
What is the Shine City Properties case?
The Shine City Properties case is a money laundering case in which Himanshu Kumar was arrested in Lucknow for his role in a Ponzi scheme that defrauded the public by collecting funds for supposed real estate investments.
What is the Enforcement Directorate (ED)?
The Enforcement Directorate (ED) is a law enforcement agency responsible for enforcing economic laws and preventing financial crimes in India.
What is the Special Prevention of Money Laundering Act (PMLA) court?
The Special Prevention of Money Laundering Act (PMLA) court is a special court set up to try cases related to money laundering and other financial crimes in India.
Why was Iqbal Kaskar's bail plea rejected?
Iqbal Kaskar's bail plea was rejected because the court believed that a thorough investigation was necessary to ensure that innocent persons are not wrongly accused, and a delay in trial cannot be the sole criterion to grant bail.
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