Mystical Con: The 'Trathgola' Money Laundering Scandal

The Enforcement Directorate (ED) filed a chargesheet against six residents of Jammu and Kashmir in a money-laundering case involving a fraudulent scheme centered on a mythical substance called 'Trathgola.' The accused allegedly duped a businessman of Rs 6.90 crore, promising it could be sold to space agencies.

The Enforcement Directorate (ED) has filed a chargesheet against six residents of Jammu and Kashmir in connection with a significant money-laundering case. The case centers on the alleged defrauding of a businessman, who was duped into paying Rs 6.90 crore for a mythical substance known as 'Trathgola.'

The accused, identified as Mohammad Iqbal Bakerwal, Muddasar Ali, Abdul Jalil, Akhtar Mir, Parvez Mir, and Iqbal Mir, are said to have marketed 'Trathgola' as a rare rock formed by lightning strikes. Prospective buyers were misled into believing they could sell it to space agencies globally.

The ED uncovered a sophisticated scheme involving 29 bank accounts used to launder the proceeds, thereby integrating the funds into the legitimate banking system. A hefty finders' fee of Rs 1.30 crore was also charged by intermediaries. Earlier, assets worth Rs 1.85 crore were attached by the ED.

(With inputs from agencies.)