Mumbai: ED Raids Multiple Locations in Probe of 1800 Crore Shipping Scam, Finds Cash in Washing Machine

Mumbai: The Enforcement Directorate (ED) on Tuesday conducted searches at a Mumbai-based shipping company accused of sending foreign currency worth rs 1,800 crore abroad through some shell companies.

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Apart from Mumbai, raids were conducted in Delhi, Hyderabad, Kurukshetra and Kolkata. However, during a raid in south Mumbai,  cash worth lakhs of rupees was found in washing machines. A total of Rs 2.54 crore in cash was seized during the raids. A total of 47 bank accounts of the company have been frozen in this case.

Vijay Kumar Shukla and Sanjay Goswami, directors of Mumbai-based Capricornian Shipping and Logistics, are accused of sending foreign currency worth Rs 1,800 crore abroad through fake companies. The ED has initiated an investigation under the Foreign Exchange Act (FEMA) in the case.

During the raids, ED officials raided five other companies linked to the Capricornian company. The ED said the money was sent by these people to a Singapore-based company.