ED: Mumbai Operator Running 700 shell Companies Converted Rs 47 crore for Chhagan Bhujbal

The Enforcement Directorate (ED) is conducting country-wide searches. The agency is covering as many as 16 states and targeting over 100 locations. Around 300 shell companies were the target.

The twitter account of the agency also tweeted that in one of the searching operations, it found that a Mumbai operator was running 700 shell companies with 20 dummy directors and had converted Rs 46.7 crore for NCP leader Chaggan Bhujbal.

The Economic Times reported that ‘the action is part of the mandate given to the ED under a Special Task Force (STF) that was recently created by the government on the directions of the Prime Ministers Office (PMO).’ In the last few days, the agency has attached assets worth crores of scores of such shell companies.

On Wednesday, the ED had alleged that Chhagan Bhujbal laundered Rs 291.71 crore, while his nephew Sameer laundered Rs 359.30 crore. The agency had submitted its findings to the Prevention of Money Laundering Act (PMLA) court. The trial against the Bhujbals is expected to start soon.