2024 (11) TMI 15 - SC - Money Laundering

Money Laundering - denial of bail - hawala operator - assisting the other accused persons in transferring the proceeds of crime - HELD THAT - Prima facie, the case against the appellant seems to be that he being a hawala operator, assisted the other accused persons in transferring the proceeds of crime. It is also noticed that prosecution intends to examine almost ninety-eight witnesses. The investigation so far as the appellant herein is concerned, is complete and complaint has also been lodged. The appellant can be released on bail subject to certain terms and conditions as may be imposed by the court concerned - bail application allowed.

Summary

The Supreme Court granted bail to an under-trial accused in a money laundering case, setting aside the High Court's order. The accused, a hawala operator, is to be released on bail with conditions, including marking his presence at the Enforcement Directorate office every fifteen days and obtaining court permission before leaving the country.