Mar 26, 04:41 PM

ED Seizes Rs 2.54 Crore ($340k) in Washing Machine in Shipping Company Raid

During a series of raids targeting a Mumbai-based shipping logistics company for violations of the Foreign Exchange Management Act (FEMA), the Enforcement Directorate (ED) uncovered a significant sum of unaccounted cash. A total of Rs 2.54 crore ($340k) was seized, with a portion of this amount ingeniously concealed within a washing machine. This discovery has highlighted the inventive methods employed by entities to hide illicit funds. The operation is part of a broader crackdown on financial crimes and money laundering within the country.

#Mumbai #Foreign Exchange Management Act #FEMA #Enforcement Directorate #ED

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