Big action by Income Tax Department, money laundering of Rs 100 crore of Siraj Mohammad exposed

Income Tax Investigation: The Income Tax Department has started its investigation in the bank fraud and money laundering case that took place in Malegaon, Maharashtra. In this case, the name of businessman Siraj Mohammad has been revealed who used multiple bank accounts for transactions worth more than Rs 100 crore. After the investigation by the police and ED, now the Income Tax Department has also become active to get to the bottom of this matter.

The analysis conducted by the Income Tax Department has revealed that Siraj Mohammad used the identities of others to open 14 bank accounts. A huge amount of money was transacted in these accounts. These accounts were opened between September and October 2024 in which a total of Rs 112.7 crore were deposited and Rs 111.7 crore were withdrawn. It was also found that these accounts were operated without the knowledge of the nominated persons.

Fraud happened in Bank of Maharashtra also

Income Tax Department’s investigation also found that similar frauds had taken place in the Malegaon branch of Bank of Maharashtra. A huge amount of transactions were done in these accounts also. Apart from this, the holders of these accounts gave statements that they had no knowledge about these accounts nor had they ever visited that bank and given any signatures.

Siraj had done big transactions in many states

Let us tell you that till now the investigation has revealed that Siraj has stolen money from 21 accounts through 2,500 different transactions from 175 bank branches located in different states like Maharashtra, Gujarat, Uttar Pradesh, Madhya Pradesh, Haryana, Odisha and West Bengal. Allegedly got Rs 125 crore transferred. After this the funds were received through anonymous persons. After doing this, this money was immediately withdrawn and transferred to different places in Maharashtra through Hawala.

Income Tax Department action and arrested accused

The Income Tax Department has issued a show cause notice against accused Parthik Jadhav in this case. Jadhav is the owner of Choice Marketing which is one of the bank accounts allegedly operated by Siraj. Considering the seriousness of the case, the Benami Unit of the Income Tax Department has intensified the investigation and strict action has been planned in future in such fraud cases.

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