Jammu, December 4 – Enforcement Directorate (ED) has filed a chargesheet against six Jammu and Kashmir residents and several others in a money-laundering case linked to the alleged swindling of a businessman through the sale of a purportedly rare and valuable substance called “Trathgola,” officials said on Tuesday.
The chargesheet, filed under the Prevention of Money Laundering Act (PMLA), accuses Mohammad Iqbal Bakerwal, Muddasar Ali, Abdul Jalil, Akhtar Mir, Parvez Mir, Iqbal Mir, and other unnamed individuals of duping the businessman of Rs 6.90 crore by fraudulently marketing “Trathgola” as a unique rock formed by lightning strikes, which they claimed could be sold to space agencies at significant profits.
A special PMLA court in Jammu has taken cognizance of the chargesheet and issued summonses to all the accused, the ED said in a statement.
The case originated from a First Information Report (FIR) filed by the Jammu Police Crime Branch, which alleged that the accused used deceitful tactics to lure the businessman into purchasing the substance. The ED’s investigation revealed an intricate scheme to launder the proceeds of the crime through a network of 29 bank accounts.
“The accused employed a layering process, depositing cash in small amounts across various accounts to evade detection and integrate the tainted funds into the legitimate banking system,” the ED said.
The agency’s probe also uncovered the involvement of intermediaries who allegedly charged a finder’s fee of Rs 1.30 crore to facilitate the fraudulent transaction with the businessman.
Earlier in the investigation, the ED attached assets worth Rs 1.85 crore belonging to the accused.
Experts have described “Trathgola” as a fabricated concept fraudulently marketed to buyers, with claims that it was a rare geological artifact capable of commanding high prices internationally.
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The Chenab Times News Desk
