In a significant crackdown, the Enforcement Directorate (ED) has registered a separate case against Jaffer Sadiq in connection with illegal money transactions related to a drug trafficking case. The ED conducted raids at Sadiq’s residence and office, eventually arresting him and his brother, Mohammed Saleem.During the investigation, it was revealed that several movable and immovable properties had been purchased through illegal money transfers. These properties were registered under the names of Jaffer Sadiq, his wife Amina Banu, Maideen Kani, and other associates, including benami holders Mohammed Mustafa and Jamal Mohammed.
Following these findings, the ED has taken action under the Prevention of Money Laundering Act (PMLA). The authorities have seized 14 immovable properties, including Jaffer Sadiq’s JSM Residency Hotel, a luxury bungalow, and seven high-end luxury cars, such as Jaguar and Mercedes. The total value of the seized assets is estimated to be Rs. 55.30 crore.
This move underscores the ED’s commitment to curbing illegal financial activities and sends a strong message against the misuse of funds in criminal enterprises. The investigation is ongoing, and more actions are expected in this high-profile case.
