In connection with a money laundering case, the Enforcement Directorate has seized assets valued at Rs 72.45 crore belonging to Badshah Majid Malik, a notorious red sander smuggler, and his accomplices, including Vijay Subbanna Poojary.
The investigation was initiated by the probe agency following a complaint lodged against Badshah, Vijay, and others by the Directorate of Revenue Intelligence (DRI) regarding the smuggling of red sanders using fabricated documents of companies located in Special Economic Zones.
According to the complaint, they allegedly trafficked red sanders disguised as shipments of fabric glue, radiators, or assorted colors.
The probe revealed that Badshah was involved in smuggling activities from 2008 to 2010 and 2014 to 2015, accumulating proceeds of crime amounting to Rs 94 crore.
The Enforcement Directorate has accused Badshah of establishing Empire India Multi Trade Pvt Ltd and injecting share capital from multiple shell companies in exchange for cash through accommodation entries to launder illicit proceeds. Subsequently, Badshah and his associates purportedly acquired numerous immovable properties through the aforementioned company.
In December 2021, a search operation was conducted at the residences of Badshah, Vijay, and their associates under the provisions of the Money Laundering Act, of 2002. During the search, various damning documents were discovered, providing evidence of Badshah's involvement in the illicit trade of red sandalwood. Badshah was apprehended on December 21, 2021, and is presently in judicial custody.
The investigation into the matter is ongoing.
