look news india
News India Live, Digital Desk: Two big stars of Indian cricket, Suresh Raina and Shikhar Dhawan, are in a big trouble. The Enforcement Directorate (ED) has attached assets worth crores of rupees belonging to these two cricketers in connection with the investigation of a major money laundering case. As soon as this news came out, there was a stir in the cricket world.
What is the whole money laundering issue?
This matter is related to ‘TagNext’, a fintech company based in Mumbai. There are serious allegations of fraud and money laundering against this company. According to the ED investigation, this company raised huge amount of money in the name of investment from many high-profile investors and common people and then sent that money abroad illegally. The investigating agency suspects that this company acted like a Ponzi scheme and misappropriated investors’ money.
What is the connection between Raina and Dhawan?
According to Enforcement Directorate (ED) sources, Suresh Raina and Shikhar Dhawan had also invested huge amount in ‘TagNext’ company. Investigation has revealed that both these cricketers had also received huge returns from the company. ED believes that this return was earned by illegally diverting investors’ money.
The investigating agency has currently temporarily attached the properties related to this return and the original investment. The seized assets include some bank accounts and other investments.
Are Raina and Dhawan the accused?
It is important to understand here that ED has not currently made Suresh Raina and Shikhar Dhawan accused in this case. He is a ‘Person of Interest’ in this investigation, which means that the agency can interrogate him and try to know whether he had any knowledge about the illegal transactions of this company or not.
this action Prevention of Money Laundering Act (PMLA) Under this section, the investigating agency can confiscate any property made from the proceeds of crime.
Till now no official statement has come from both the cricketers on this matter. ED is now investigating this matter more deeply and is trying to find out where else the strings of this scam are connected.
