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.
Related News Articles
Dubai South: The Emerging Hub of Real Estate Activity in the UAE
Dubai South has witnessed a significant surge in residential property transactions, with a remarkable 11% growth, making it an attractive destination for real estate investment.
Abhinandan Lodha's Mega Expansion: A Rs 1800 Crore Real Estate Venture
The Mumbai-based real estate firm has embarked on an ambitious expansion plan, launching 10 plotted development projects across Maharashtra, Goa, and Uttar Pradesh.
Retired Police Officer Loses 14.7 Crore in Hyderabad Real Estate Scam
A retired additional superintendent of police was defrauded of 14.7 crore by a conman who promised high returns on real estate investments.
Expert Insights: Long-Term Potential of Sanofi India Shares
Market expert Chandan Taparia provides a detailed analysis and long-term view on Sanofi India shares, offering valuable advice to investors.
Cube Highways InvIT Acquires Two Road Assets for Rs 4184 Crore
Cube Highways InvIT, a leading infrastructure investment trust, has recently acquired two road assets for an enterprise value of Rs 4184 crore. This strategic move is expected to bolster the company's portfolio and enhance its operational efficiency.
Navigating the Costliest Real Estate Market in India: Mumbai's Luxury Property Scene
Over the past decade, Mumbai's real estate market has seen a significant surge in prices, particularly in the luxury segment. According to Knight Frank's The Wealth Report 2024, Mumbai continues to rank among the most expensive cities for luxury property