The Enforcement Directorate (ED) on Monday said that they have filed a prosecution complaint or charge sheet, against Badshah Majid Malik and three others before a Special Court in Mumbai under Prevention of Money Laundering Act in a case pertaining to the smuggling of Red Sanders.
The ED officials said that the court after accepting the charge sheet took cognisance of it. “On February 15, we filed the charge sheet while the cognisance of the charge sheet was taken on February 18”.
The ED initiated money laundering investigation against Badshah Majid Malik and others on the basis of prosecution complaint filed by the DRI in a case relating to seizure of Red Sanders worth Rs 3.16 crores in 2015.
Investigations by DRI had established that Badshah Majid Malik was the kingpin of the syndicate involved in the smuggling of Red Sanders.
The ED had on December 20, 2021 conducted searches at eight locations in Mumbai and Thane resulting in the seizure of incriminating documents. On December 21, 2021, a day after the raid, ED had arrested Badshah.
The ED, during the investigation, learnt that Badshah Majid Malik and others had laundered the proceeds of crime generated by Malik’s illegal activities in the guise of share subscription premium in one company that had been incorporated by him and his associates.
The money was subsequently transferred to the accounts of the promoters of the Company including Badshah Majid Malik and was used for purchasing properties, luxury cars and paying off loans.