The Directorate of Enforcement (ED) has filed a prosecution complaint in a unique money laundering case involving the fraudulent sale of a mythical substance called ‘Trathgola’.
Based on Kashmiri folklore, this so-called magical stone, said to form during lightning strikes or cloudbursts, was used as a pretext to defraud a Jammu-based businessman of Rs 6.9 crore.
The complaint, filed under the Prevention of Money Laundering Act (PMLA), 2002, names six individuals – Mohammad Iqbal Bakerwal, Muddasar Ali, Abdul Jalil (residents of Channi Mansar, J&K), and Akhtar Mir, Parvez Mir, and Iqbal Mir (residents of Batote, J&K) – along with others.
Filed on November 25, 2024, the chargesheet was submitted before the Principal District and Sessions Judge, Jammu, designated as the Special Court for PMLA cases. The court has taken cognisance and issued notices to all the accused.
The investigation began after an FIR registered by the Crime Branch, Jammu, revealed how the businessman was deceived under the guise of acquiring the rare and precious ‘Trathgola’.
The accused allegedly claimed that the stone possessed unique powers, enticing the victim into a scam.
The ED’s probe uncovered a complex scheme to launder the proceeds of crime. The accused deposited the defrauded money in small amounts across 29 bank accounts, aiming to evade detection.
These funds were then integrated into the formal banking system. The investigation also revealed that Rs 1.30 crore of the total defrauded amount was paid as a “finder’s fee” to intermediaries who facilitated the fraudulent deal.
In a significant development earlier, the ED had provisionally attached movable and immovable properties worth Rs 1.85 crore, including bank accounts, fixed deposits, and lands belonging to the accused.
The Special Court’s cognisance of the case marks a critical step forward in holding the accused accountable. The ED is continuing its investigation to trace more assets and individuals connected to this elaborate fraud.
