ED Seizes Rs 7.98 Crore in Illegal Export Case

The Enforcement Directorate (ED) seized properties worth Rs 7.98 crore in a money laundering investigation related to illegal export of drugs. Aashish Jain and his associates are accused of running an illicit internet pharmacy. A total Rs 12.76 crore as proceeds of crime were identified.

The Enforcement Directorate (ED) has seized assets totaling Rs 7.98 crore as part of its investigation into a money laundering case involving the illegal export of psychotropic substances. The ED's Hyderabad Zonal Office carried out this operation under the Prevention of Money Laundering Act (PMLA), 2002.

JR Infinity Private Limited, owned by Aashish Jain, was allegedly operating an unlawful internet pharmacy, exporting drugs like Alprazolam and Oxycodone under the facade of a telemarketing and SEO service. Searches by the Narcotics Control Bureau (NCB) earlier revealed significant evidence and resulted in the confiscation of currency totaling Rs 3.72 crore.

The seized properties, worth Rs 6.52 crore, are primarily land parcels in Indore, Madhya Pradesh. Additionally, bank balances and fixed deposits worth Rs 1.46 crore were also attached. The ED reported that these funds were proceeds from illegal activities and were used to acquire assets in the name of Aashish Jain and family.

Further investigations highlighted undisclosed remittances exceeding Rs 4.50 crore received in Jain's personal accounts. The total identified Proceeds of Crime (POC) in this case amount to Rs 12.76 crore.