International hawala kingpin Naresh Kumar Jain financed drug deals in Italy between 2005 and 2007 before his arrest in Dubai for money laundering. After his mysterious disappearance from Dubai in February 2007, Indian agencies, including the Narcotics Control Bureau (NCB), launched a massive hunt for Jain.
NCB received credible inputs late last month that Jain had sneaked into India through the Nepal border and arrested him on December 6 on charges of financing international drug deals.
After interrogating him for two days, the sleuths gathered that Jain raised over Rs2,500 crore through illegal financial deals. A big chunk of the money was paid to Italian drug mafia on behalf of unidentified drug dealers. “All agencies are in touch with their counterparts abroad and the information is being verified,” a senior NCB official said.
Meanwhile, after the completion of his three-day police remand, Jain was sent in judicial custody on Wednesday.ED will again move court on Thursday to seek his custody.
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