The Enforcement Directorate’s Mumbai Zone has provisionally attached seven properties, including Mumbai flats, valued at around Rs 5.88 crore in connection with an NDPS-related money laundering case. The attached properties belong to individuals like Faisal Shaikh and Alfiya Shaikh. The investigation stemmed from a complaint by the NCB, Mumbai, under NDPS Act sections.
The ED revealed that Faisal Shaikh, a key accused, allegedly obtained the prohibited drug Mephedrone from Salim Dola, a known drug kingpin. Faisal and his wife, Alfiya, were found to have set up a structured network for MD distribution. They supplied the drug to various individuals who further distributed it to retail customers. The couple allegedly deposited cash from drug sales into their personal bank accounts to disguise it as legal income.
Further probe uncovered that the accused utilized their firms and associates’ names to legitimize the proceeds of crime, despite lacking genuine business operations. Cash from drug sales was reportedly passed on to associates, including Faizan Mohd Shafi Shaikh, and channeled through multiple bank accounts, including shell companies, to obscure the money trail. Laundered funds were allegedly redirected to purchase immovable properties.
In a previous operation, the ED seized cash, jewelry, luxury vehicles, and bank accounts of the accused. The money trail established by Faisal and Alfiya Shaikh has been visualized in a flow chart. The investigation is ongoing.
