Overview

• The Enforcement Directorate handed over a banker’s cheque of Rs 3.82 crore to CEO Jeelani H. Mokashi on July 1 after a sessions judge approved the release of seized assets.
• The money laundering investigation began with a 2017 state police FIR against two Vijaya Bank officials and Waqf Board assistant Syed Siraj Ahmed for allegedly misappropriating board funds.
• Officials discovered that two cheques totaling Rs 4.00 crore, issued for fixed deposits, were instead transferred to fictitious entities.
• Verkeys Realities Pvt. Ltd. used Rs 1.10 crore to purchase a Mercedes and Rs 2.72 crore was routed to an account held by Ajay Sharma Trading Corporation.
• The ED raised no objections when the court identified the Waqf Board as the rightful claimant, marking the end of this phase of restitution.