The High Court in Kerala dismissed Sayid’s bail of Muhammed of Vadakara, who was accused as the fifth accused in the case of money laundering registered by the enforcement Directorate (ED).
The accusation was that it was involved in the washing of the CRORE 121 GBP in connection with the fraud of Chinese loan. Reportedly organized 289 bank accounts in the name of individuals and business entities for which he allegedly received a reward from cyber fraudsters. He was arrested in February 2025 and has been in custody since then.
He overwhelmed his claimant on bail, Ed said he paid 5,000 GBP to the MULE bank account compliance, which were allegedly used to operate illegal loans that cheated on the public. The probe revealed that the money collected from the victims via online platforms was credited to the Mule accounts. They were then directed through these accounts and parked in various companies that were only entities. Ed also claimed that the funds were eventually diverted to bank accounts that were maintained outside India.
The agency also said that the Crore 121 GBP was collected from the victims and transferred to four foreign wallets located outside the country. During the rejection of his lawsuit, the bench of justice Bech Kurian Thomas noted that the materials clearly indicated the active involvement of the accused in obtaining and transferring income from crime.
Published – 18 July 2025 22:46
