ED freezes over 100 'mule' accounts, seizes Rs 70 lakh cash in cocaine trafficking case
New Delhi (PTI): The Enforcement Directorate has frozen 110 "mule" bank accounts, seized Rs 70 lakh in cash and found usage of Dubai-based cryptocurrency wallets during searches in a money laundering case linked to alleged drug trafficking in Delhi, a statement said on Sunday.
Mule bank accounts are used to transfer illicit funds and are opened by misusing genuine or using fake customer IDs.
The raids were undertaken on November 14 after the federal probe agency took cognisance of a Narcotics Control Bureau (NCB) complaint of November 2024 related to the seizure of 82.53 kg of "high-grade" cocaine.
The ED covered five premises in Delhi-NCR and Jaipur during the searches.
The seized party drug was estimated to be worth Rs 900 crore by the NCB and five persons were arrested by the central anti-narcotics agency.
"The searches indicated an online betting and gambling network being operated through mobile-based applications.
"The operation resulted in the freezing of 110 mule bank accounts, including 73 linked with UPI IDs and digital wallets that were actively being used for handling transactions related to the betting operations," the ED statement said.
Some documents and digital devices seized during the searches show the use of Dubai-based cryptocurrency wallets for the transfer of funds, it said.
Rs 70 lakh cash, "incriminating" documents, digital devices and financial records were also seized, the ED said.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
