Panaji, July 23: The Enforcement Directorate (ED) has made a significant move against a money laundering network linked to crypto hawala and international drug trafficking by arresting Nihal V.N., a resident of Dubai. The arrest was made under the Prevention of Money Laundering Act (PMLA), 2002. A special PMLA court in Goa has remanded the accused to ED custody for seven days, until July 28.
According to the ED, this action aligns with the Prime Minister’s ‘Nasha Mukt Bharat’ campaign and directives issued by the Union Home Minister during the 10th Apex NCORD meeting on June 26, 2026. The agency stated that its focus has expanded beyond just individuals transporting drugs to dismantling the entire trafficking network, including darknet operators, kingpins, and international networks providing financial support.
Investigations revealed that Nihal V.N., residing in Dubai, was operating a financial network for international drug trafficking syndicates active in several countries. He allegedly converted illegal earnings from drug sales in India into cryptocurrency and foreign currency, sending the funds abroad. This money was used by drug cartels and suppliers in Brazil and Thailand to purchase high-quality narcotics and synthetic drugs for trafficking in India.
The ED reported that forensic and digital investigations have uncovered multiple illegal crypto wallets, foreign bank accounts, and shell companies used for money laundering.
Previously, the ED conducted raids at 26 locations across seven states, including Goa, Maharashtra, Kerala, Tamil Nadu, Karnataka, Odisha, and Delhi. This operation was initiated based on an investigation started by the Goa Police’s Anti-Narcotics Cell under the NDPS Act, 1985. The inquiry has also revealed the supply of narcotics through a business-to-business (B2B) model across several states.
During the raids, the ED seized approximately ₹30 million in cash, numerous incriminating documents, and digital devices. The main accused, Madhupan S.S., was arrested earlier on January 17, 2026, under Section 19 of the PMLA and is currently in judicial custody.
The ED has stated that it is continuously taking action against organized drug trafficking networks and associated money laundering activities. The agency is working to identify and seize properties acquired through crime to completely dismantle the economic network of drug trafficking. Investigations are ongoing to identify other beneficiaries, accomplices, and illegal assets involved in the case.
Leave a Comment