Overview

• On June 25, the ED conducted coordinated searches at offices and residences linked to the syndicate in Surat, Ahmedabad, and Mumbai under the Prevention of Money Laundering Act.
• The probe follows a 2024 Gujarat Police FIR naming Makbul Doctor, Kaashif Doctor, Bassam Doctor, Mahesh Mafatlal Desai, Maaz Abdul Raheem Nada, and others.
• Authorities allege the accused used fake enforcement notices, digital arrest threats, and bogus USDT trading platforms to extort funds from victims.
• Investigators suspect the proceeds were funneled through bank accounts opened with forged or dummy KYC documents before being converted into cryptocurrency via hawala channels.
• No asset seizures or arrests have been publicly disclosed so far and the ED is expected to collaborate with central cybercrime and international financial intelligence agencies as the inquiry deepens.