6.3 Crore Seized: ED Cracks Down on Hawala Operators in Torres Jewellery Case

The Enforcement Directorate (ED) has intensified its crackdown on money laundering activities associated with Torres Jewellery, seizing Rs 6.3 crore from 'angadias' and 'hawala' operators in Mumbai and Surat. The federal agency conducted raids at four premises on Friday as a part of this operation.

The investigation stems from allegations against Platinum Hern Private Limited and involves claims of defrauding customers and diverting legitimate business funds through illegal networks. The funds allegedly got converted into USDT cryptocurrency instead of serving business purposes, according to the ED.

The ED's investigation further implicates Alpesh Khara as a pivotal figure in the scheme, facilitating cash collection and conversion, orchestrated by foreign nationals. Earlier in March, Khara was arrested in connection with these charges. The recent operations have also resulted in the seizure of incriminating digital evidence.

(With inputs from agencies.)