LUCKNOW After searches conducted at 24 locations in UP, Jharkhand and Gujarat, the Enforcement Directorate on Monday began analysis and evaluation of documents and other incriminating evidence seized in connection with the illegal trade of codeine-based cough syrup. Sleuths will also ascertain the role of companies whose documents were found during the searches.
While focus is on reconstructing the entire money trail linked to the racket, background verification of newly identified suspects commenced, raising the possibility of the probe expanding substantially in the coming days.
The agency also initiated a forensic audit of bank accounts linked to suspected shell companies to trace transactions involving crores of rupees. Officials indicated that these audits would help establish layers of fund movement, identify benami entities and determine the proceeds of crime generated through the illegal diversion of codeine-based cough syrup.
According to sources, ED investigators are mapping financial linkages between manufacturers, distributors, transporters and alleged facilitators to establish the full extent of the laundering network. Statements of key individuals are expected to be recorded based on the findings of the document analysis.
On Friday and Saturday, the ED conducted searches at 25 locations across UP, Jharkhand and Gujarat in connection with the cough syrup diversion racket, with investigators suspecting the involvement of nearly 454 additional firms and their operators.
{{/usCountry}}On Friday and Saturday, the ED conducted searches at 25 locations across UP, Jharkhand and Gujarat in connection with the cough syrup diversion racket, with investigators suspecting the involvement of nearly 454 additional firms and their operators.
{{/usCountry}}The searches resulted in the recovery of a substantial volume of documents and digital evidence, including payment records, Excel sheets, fake billing documents, interstate transport permits and details of suspicious financial transactions. The newly recovered material has revealed the possible role of several companies and individuals who were not previously identified in the syndicate.
The action follows the registration of an Enforcement Case Information Report (ECIR) nine days ago against 67 accused under the Prevention of Money Laundering Act (PMLA).