ED Arrests Impersonator in Hyderabad Money Laundering Case
Arrest of Impersonator in Major Money Laundering Investigation
The Enforcement Directorate (ED) has apprehended an impersonator in Hyderabad who attempted to intimidate investigators involved in a significant money laundering case worth ₹5,978 crores linked to Naheira Sheikh and others. The individual, identified as Kalyan Banerjee, was taken into custody on January 10. The ED's regional office in Hyderabad charged Banerjee under the Prevention of Money Laundering Act (PMLA), 2002. He was subsequently presented before a special PMLA court on January 11, which remanded him to judicial custody until January 23, 2026.
ED's Firm Stance Against Interference
The ED has made it clear that any attempts by dishonest individuals to interfere with investigations will be dealt with strictly, and appropriate legal actions will be taken against them. The agency is investigating Naheira Sheikh and others based on multiple FIRs filed by police officials across various states under the provisions of the PMLA, 2002. Investigations revealed that Sheikh and her associates had promised investors annual returns exceeding 36%, collecting over ₹5,978 crores, but failed to return the principal amount, thereby defrauding investors.
Details of the Investigation
The ED's inquiry has uncovered that Naheira Sheikh utilized a portion of the proceeds from criminal activities to acquire various immovable properties in her name, her companies' names, and those of her relatives. During the investigation, assets worth ₹428 crores were seized, and a prosecution complaint along with supplementary complaints has been filed in the special PMLA court in Hyderabad. The ongoing investigations have also led to a proposal for the auction of seized properties to compensate the victims of the fraud, pending approval from the Supreme Court.
Legal Maneuvers by Naheira Sheikh
Despite the ongoing legal proceedings, the ED noted that Naheira Sheikh has repeatedly attempted to halt the auction process in both the Supreme Court and the Telangana High Court.