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Mumbai: ED conducted searches at 8 Mumbai locations regarding a money laundering investigation involving One World Creations Private Limited (OCPL) and associates in a bank fraud matter. The investigation revealed proof connecting property acquisitions through unlawful means, using a web of shell firms, partnerships and sole proprietorships registered under accused persons and non-existent entities. In a press release, ED said they registered a money laundering case following a CBI FIR against OCPL, Urvil Jani and others, stemming from UCO Bank’s complaint about a Rs 93 crore fraud affecting multiple banks. ED said OCPL and its directors orchestrated a scheme to deceive banks by artificially enhancing turnovers in shell entities through circular trading.
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