The Enforcement Directorate (ED) has made a significant arrest in a major crypto-drug trafficking case involving a resident of Uttarakhand. Banmeet Singh, hailing from Haldwani, Uttarakhand, was apprehended by the ED's Dehradun unit under the Prevention of Money Laundering Act (PMLA) on May 29.
The ED's probe was prompted by a Mutual Legal Assistance (MLA) request from US authorities, indicating cross-border offences under the NDPS Act. The investigation revealed that the Singh brothers received over 8,000 Bitcoins (approximately equivalent to 4500 crore rupees), associated with their online aliases. Banmeet Singh has already surrendered 3,838 Bitcoins to US authorities, valued at approximately Rs 2,000 crore.
Following a search conducted earlier this year on April 26, Parvinder Singh was arrested on April 27 under the PMLA. Subsequent searches led to the seizure of 268.22 Bitcoins, equivalent to Rs 130 crore, from the Singh brothers' residence in Haldwani on May 1. Presently, Parvinder Singh is in judicial custody at Suddhowala jail in Dehradun.
He stands accused of orchestrating an international drug trafficking network that operated across the US, the UK, and various European nations. The investigation revealed that Banmeet Singh and his brother Parvinder Singh, along with accomplices, ran the Singh DTO (Drug Trafficking Organization).
Utilising vendor marketing sites on the dark web and free advertisements on clear web platforms, the Singh Organization distributed narcotics and controlled substances to customers abroad.
The proceeds from these illicit activities were then laundered through cryptocurrency transactions. Both brothers operated under the moniker "Liston" across several dark web markets, including Silk Road 1, Alpha Bay, and Hansa.
Banmeet Singh's arrest and the uncovering of substantial cryptocurrency proceeds highlight the ED's efforts to combat transnational organised crime networks involved in drug trafficking and money laundering.
The agency's collaboration with international counterparts underscores the global nature of such illicit activities and the need for coordinated efforts to address them effectively.
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