JAMMU, Dec 3: The Directorate of Enforcement (ED) in Jammu has filed a Prosecution Complaint (PC) against Mohammad Iqbal Bakerwal, Muddasar Ali, and Abdul Jalil, all residents of Channi Mansar, J&K, as well as Akhtar Mir, Parvez Mir, Iqbal Mir, and others, all from Batote, J&K. This complaint was submitted under the Prevention of Money Laundering Act (PMLA) on November 25, 2024, to the Principal District and Sessions Judge, Jammu (Designated Special Court (PMLA), Jammu), which has since acknowledged receipt and issued notices to all accused.
The investigation initiated by the ED stemmed from an FIR lodged by the Crime Branch of Jammu against Mohammad Iqbal Bakerwal, Mohammad Akthar Mir, Parvez Mir, Iqbal Mir, and various other individuals accused of defrauding a Jammu-based businessman out of Rs. 6.90 Crore under the guise of providing a supposedly rare and valuable magical substance known as ‘Trathgola.’
The ED’s investigation revealed a sophisticated scheme for laundering the Proceeds of Crime (POC) orchestrated by Mohammad Iqbal Bakerwal and his extended family, involving a network of 29 bank accounts that received cash deposits in small increments to evade detection while channeling the POC into the formal banking system. The inquiry also identified certain intermediaries who demanded a substantial fee of Rs. 1.30 Crore for facilitating the acquisition of ‘Trathgola.’
Previously, the ED issued a Provisional Attachment Order for assets valued at Rs. 1.85 Crore, which included bank accounts, fixed deposits, and land holdings.
The investigation is ongoing.
