The Enforcement Directorate (ED) arrested Nihal V.N., a Dubai resident, in a significant operation targeting crypto-hawala and an international narcotics money laundering syndicate. Nihal V.N. was taken into custody under the Prevention of Money Laundering Act (PMLA), 2002, as part of efforts to disrupt transnational narco-syndicates’ financial networks. A Special Court in Goa remanded the accused to ED custody for seven days until July 28.
The focus of the crackdown has shifted from individual drug carriers to dismantling complete drug-trafficking networks, darknet operators, kingpins, and their cross-border financial facilitators. Investigations revealed that Nihal V.N., based in Dubai, played a key role as a primary financial node and money launderer for international drug lords operating globally. He converted illegal proceeds from drug sales in India into cryptocurrencies and foreign exchange, which were then used to finance the procurement of narcotics intended for smuggling into India.
The ED’s forensic and digital investigations uncovered multiple illicit crypto-wallets, offshore bank accounts, and domestic shell entities used in laundering proceeds of crime. Earlier search operations conducted by the ED in various states led to the seizure of 3 crore cash, along with incriminating documents and digital devices. The main accused in the case, Madhupan S.S., was arrested previously and is currently in judicial custody.
