India, June 21 -- A special court constituted under the Prevention of Money Laundering Act (PMLA) has granted bail to Israd Sayyed, an aide of Iqbal Kaskar, the younger brother of fugitive gangster Dawood Ibrahim, in connection with a money laundering case.
The ED had accused Kaskar and his aides, Israd Sayyed and Mumtaz Shaikh, of being the masterminds behind extortion of money and property from builders, and of being knowingly indulging in laundering of proceeds of crime to the tune of Rs.78.63 lakh.
The extortion complaint had alleged that in 2017, Kaskar and his associates extorted Rs.30 lakh in cash and a flat worth Rs.60 lakh in the Neopolis building in Thane from local builder Suresh Jain. Kaskar and his aides allegedly threatene...
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