Bengaluru: The Special Investigation Team (SIT) led by the Enforcement Directorate (ED) is preparing to issue a third notice to Youth Congress leader Mohammed Nalapad, son of four-time MLA and Bengaluru Development Authority Chairman N.A. Harris, in connection with alleged financial transactions linked to the case.
According to SIT investigations, crores of rupees were allegedly routed through transactions linked to Nalapad in connection with the illegal conversion of Bitcoins into Indian currency.
Case Linked to Alleged Hacker “Sriki”
The case is linked to alleged international hacker Srikrishna alias Sriki, who is accused of illegally acquiring Bitcoins and attempting to convert them into cash through illegal channels.
ED Conducts Raids and Seizes Digital Evidence
Recently, ED officials conducted coordinated raids at the residences of Congress MLA N.A. Harris in Shantinagar, Bengaluru, and his son Mohammed Nalapad, during which digital evidence was seized.
The ED has already arrested and questioned Sriki, Suneesh Hegde, and Robin Khandelwal in connection with the case. Officials are examining their statements as part of the ongoing investigation into alleged laundering of proceeds from cryptocurrency-related offences.
The SIT has alleged that Sriki approached Mohammed Nalapad to help convert Bitcoins into Indian rupees. It is further alleged that Nalapad, through Mumbai-based associates and Robin Khandelwal, facilitated conversion via hawala networks.
Financial Links Under ED Scrutiny
Investigators have claimed that substantial commissions from these transactions were received by Nalapad. The ED is preparing to include these findings in the charge sheet and initiate further action, sources stated.