Surat: Enforcement Directorate (ED) today arrested Jignesh Bhajiawala, son of controversial self styled financier of Surat under Prevention of Money Laundering Act (PMLA) act for illegally converting old demonetized currency to new one.

An ED official today said that Jingesh was arrested today. He was interrogated in the sub-zonal office of the ED last night in connection with a case lodged against him, his brother Vilas and father Kishore Bhajiawala by us last month under various sections of the PMLA.

“Based on the FIR lodged by the CBI earlier against Bhajiyawala and his two sons, who were found to be in possession of Rs 1.05 crore in new notes, ED has lodged a case of money laundering against them on December 28,” the official said.
On December 24, the CBI had registered an FIR against the trio and a bank manager in connection with Rs 1.05 crore in new currency notes recovered from his premises during searches conducted by Income Tax department.

The IT department had recovered cash, valuables and documents of property worth crores from the premises of Bhajiawala in Udhana area here and his bank lockers. Gold jewelry worth around Rs 5 crore and silver worth over 1.20 crore with other ornament and bullion worth around Rs 3 crore was also found during the raids.

Bhajiawala, who used to sale bhajia (a kind of Gujarati snacks) and tea on the road-side on a lorry earlier on, shot to limelight after the raids.

Meanwhile, the ED has not ruled out the possibility of the arrest of Kishore and his other son in the case.

DeshGujarat