Pune: An illegal money transfer racket worth Rs 35 crore involving a trader from this Maharashtra city has been unearthed, Enforcement Directorate (ED) sources said late on Wednesday.
The ED on Wednesday froze seven out of 10 Swiss bank accounts of the trader operating from a six-storey building in Koregaon Park area in Pune, they said.
Money used to be deposited into the trader's accounts from Britain via havala or unauthorised money transfer channels, the ED sources said, adding that the investigations began in January this year with a raid on the trader's office following a tip-off.
The raid yielded unaccounted cash of Rs 1 crore besides some incriminating documents. They, however, refused to divulge the name of the trader and other details at this stage, saying a probe was on.
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