The Enforcement Directorate (ED), Mumbai Zonal Office, has provisionally attached immovable properties valued at approximately Rs 700.27 crore under the Fugitive Economic Offenders Act (FEOA), 2018. These assets, including prime properties in Mumbai’s Worli area and overseas properties in Dubai, are linked to late Iqbal Mirchi and his family members. The investigation, stemming from FIRs by Mumbai Police, revealed Mirchi’s involvement in organized criminal activities like drug trafficking and extortion.
The ED’s probe under the Prevention of Money Laundering Act (PMLA) uncovered that Iqbal Mirchi had allegedly laundered substantial proceeds of crime through property acquisitions in India and abroad. The Worli properties, initially purchased by Sir Mohammad Yusuf Trust in 1986, were allegedly controlled by Mirchi and his family members despite being in the Trust’s name. The agency also accused the Trust of misrepresenting facts to release the properties from earlier attachment proceedings.
Proceeds of crime were purportedly used to acquire assets in Dubai, including Hotel Midwest Apartment and real estate units, in the names of Asif Iqbal Memon and his family members. The ED has filed a prosecution complaint against Asif Iqbal Memon, Junaid Iqbal Memon, Hajra Iqbal Memon, and others for alleged money laundering. The Special Court (PMLA), Mumbai, declared the Memons as Fugitive Economic Offenders under the FEOA, 2018. The investigation into the case is ongoing.
