ED Freezes Assets Worth Rs. 9.67 Crore in International Drug Trafficking Bust
(Judicial Quest News Network)
Delhi, 19, July 2024
The Directorate of Enforcement (ED), Dehradun, has taken decisive action by provisionally attaching assets valued at Rs. 9.67 Crore (approx.) on July 18, 2024. This move targets both movable and immovable assets linked to an illegal drug operation orchestrated by Banmeet Singh, Parvinder Singh, and associates, under the purview of the Prevention of Money Laundering Act (PMLA), 2002.
Initiated following a Mutual Legal Assistance Treaty (MLAT) request from US authorities, the ED’s investigation uncovered extensive cross-border criminal activities. The Singh DTO (Drug Trafficking Organization), headed by Banmeet Singh and Parvinder Singh, utilized sophisticated methods including dark web vendor sites, free ad placements on regular websites, and a network of distributors to peddle narcotics in countries such as the USA and UK.
Transactions were conducted in cryptocurrency through dark web markets, later laundered into traditional currency via bank accounts. The brothers operated under the alias “Liston” across notorious platforms like Silk Road 1, Alpha Bay, and Hansa.
A series of targeted search operations on April 26, 2024, and May 1, 2024, at properties associated with the Singh brothers led to significant discoveries. Subsequent arrests of Parvinder Singh on April 27, 2024, and Banmeet Singh on July 29, 2024, under the PMLA, 2002, underscored the severity of the charges. Further bolstering the investigation, a PMLA search at Haldwani yielded the recovery of 268 Bitcoins, valued at over Rs. 130 Crore.
Currently detained at Suddhowala Jail, Dehradun, pending judicial proceedings, the Singh brothers face ongoing investigations as the ED continues to unravel the full extent of their illicit operations.
