Iqbal Mirchi case: ED objects to bail pleas of gangster aide, businessman

The Enforcement Directorate (ED) on Monday objected to the bail applications of British national Haroun Yusuf, who was allegedly a close aide of late gangster Iqbal

The Enforcement Directorate (ED) on Monday objected to the bail applications of British national Haroun Yusuf, who was allegedly a close aide of late gangster Iqbal Mirchi, and city-based businessman Ranjeet Bindra, in a Prevention of Money Laundering Act (PMLA) court. Both men were arrested on October 11 in money laundering case involving the late gangster.

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The ED is investigating Mirchi’s money laundering trail and he is suspected to have earned through several illegal activities, since 1985.

While objecting to the bail application, the ED in its reply, claimed that both, Yusuf and Bindra played crucial roles in the money laundering process. The agency further claimed that the investigation in the case is still on and if the accused are released on bail, they may hamper the investigation.

The Central agency alleged Mirchi had purchased three properties – Sea View, Marium Lodge and Rabia Mansion – in 1986, belonging to the Mohammad Yusuf Trust for ₹6.5 lakh, through his company M/s Rockside Enterprises. The ED alleged that the three properties were the proceeds of crime.

The agency further claimed that when Mirchi had bought the properties, Yusuf was the chairman of the Mohammad Yusuf Trust. The agency also discovered that the trust had received complete payment from Mirchi, after which the trust handed him over the property. They claimed that Yusuf misrepresented before several agencies and courts that the properties continues to belong to the trust.

The ED also claimed that Bindra was the mediator during the negotiation of the redevelopment deal with Sunblink Real Estate Pvt Ltd, for which he was paid a commission of around ₹50 crore, which was received in broker Rinku Deshpande’s account. She then transferred the money to Bindra through market sources, ED claimed. Deshpande has also been arrested in the case.