ED takes possession of flat linked to Iqbal Kaskar in money laundering probe

File Pic

The Enforcement Directorate (ED) has taken possession of a flat valued at ₹55 lakh in Thane, Maharashtra, as part of an ongoing money laundering investigation linked to Iqbal Kaskar, the brother of fugitive gangster Dawood Ibrahim. The flat is allegedly owned by Mumtaz Ezaz Shaikh, a close associate of Kaskar.

According to sources in the federal agency, the residential property in the Neopolis Building, located in Thane West, was attached as a result of a provisional order issued under the Prevention of Money Laundering Act (PMLA) in 2022. The adjudicating authority had approved the provisional attachment, which allowed the ED to take formal possession of the flat. The process of seizing the property was completed recently.

The ED had previously alleged that the flat was extorted by Iqbal Kaskar and his associates from a Thane-based real estate developer, Suresh Devichand Mehta. "Mehta, who was involved in construction business with his partner through Darshan Enterprises, was coerced by Kaskar, Mumtaz Shaikh, and Israr Ali Jamil Saiyad, who, due to their association with Dawood Ibrahim, managed to seize a flat in Thane in the name of Mumtaz Ezaz Shaikh," the ED had stated.

In addition to the flat, the ED also pointed out that four cheques totalling ₹10 lakh were issued by the builder, which were later encashed by the accused via cash withdrawals. These transactions were also part of the money laundering probe.

The money laundering investigation stems from an FIR registered by Thane Police in September 2017. The police had filed charges under the Maharashtra Control of Organised Crime Act (MCOCA) against the accused. As per PTI, Kaskar is currently in judicial custody, while his brother, Dawood Ibrahim, has been declared a terrorist by India and is believed to be residing in Pakistan.

Dawood Ibrahim's brother Iqbal Kaskar held in PMLA case; ED gets custody till February 24

A special court in Mumbai remanded fugitive gangster Dawood Ibrahim's brother Iqbal Kaskar in the custody of Enforcement Directorate till February 24 in a money laundering case.

Earlier in the day, based on a production warrant issued by the court, the ED, which is conducting a money laundering probe into underworld-linked property and hawala deals, took custody of Kaskar, who is currently lodged in a Thane jail in connection with multiple extortion cases. Kaskar was placed under arrest under the Prevention of Money Laundering Act after interrogation on Friday and was produced before special judge MG Deshpande by the ED, which sought his custody for further probe into the matter.