The Enforcement Directorate (ED) has attached six immovable properties worth ₹2.03 crore in connection with a money laundering case linked to Late Mukhtar Ansari’s associate, Shadab Ahmed, and his wife.
Properties Linked to Vikas Construction Under Attachment
The Directorate of Enforcement (ED), Prayagraj, has provisionally attached six immovable properties valued at ₹2.03 crore under the Prevention of Money Laundering Act (PMLA), 2002.
The properties belong to Shadab Ahmed, a close aide of Late Mukhtar Ansari, and his wife. The attachment is part of an ongoing investigation against M/s Vikas Construction, Ghazipur, an entity reportedly operated by Ansari and his associates.
This latest order marks the fourth attachment in the case, bringing the total value of assets attached so far to ₹8.43 crore, officials said.
Shadab Ahmed Detained at Lucknow Airport
In October 2025, the ED detained Shadab Ahmed at Lucknow Airport upon his arrival from Sharjah, acting on a Look Out Circular (LOC) issued earlier by the agency.
Following his detention, he was produced before the Special Judge (PMLA/CBI), Lucknow, who remanded him to judicial custody based on a Non-Bailable Warrant (NBW) issued by the court.
The ED Allahabad Sub-Zonal Office, Prayagraj, secured his custody on October 31, 2025, for detailed questioning related to the money laundering probe.
Investigation Traces Proceeds of Crime Worth ₹27.72 Crore
The investigation by ED stems from two FIRs registered at P.S. Dakshin Tola, Mau, and P.S. Nandganj, Ghazipur.
The probe revealed that M/s Vikas Construction allegedly encroached on government land in Raini village (Mau) and Ghazipur, where it constructed illegal godowns. These structures were later leased to the Food Corporation of India (FCI), generating illicit profits through rental income and NABARD subsidies, despite being built on encroached land.
The ED identified Proceeds of Crime (POC) amounting to ₹27.72 crore, linked to the unauthorized use and monetization of government property.
Layering and Concealment of Funds
During custodial interrogation, investigators found that Shadab Ahmed played a key role in layering and concealing approximately ₹10 crore of the illicit proceeds.
Ahmed acted as the Director and authorised financial operator of M/s Aaghaaz Project and Engineering Pvt. Ltd. and M/s Inizio Network Solution Pvt. Ltd., and served as authorised signatory on their bank accounts.
Through these entities, he facilitated the movement of illicit funds generated by M/s Vikas Construction, disguising them as legitimate business transactions. The money was subsequently routed through multiple accounts and layered across entities to conceal its origins, the ED said.
Assets Purchased Using Laundered Funds
The probe established that Shadab Ahmed received ₹1.91 crore as salary and ₹74 lakh as unsecured loan, purportedly from the laundered proceeds. He used this money to acquire the six immovable properties now attached by the ED.
Ahmed had been absconding since 2022, when the agency conducted searches at his premises. His interrogation has provided critical evidence linking him to the laundering of funds derived from Vikas Construction’s illegal operations.
Fourth Attachment in ED’s Ongoing Action
The latest attachment order is the fourth issued in the case, taking the total assets attached to ₹8.43 crore so far.
The ED has stated that the money laundering network operated through multiple fronts and that further investigation is underway to identify additional assets and associates involved in the concealment and investment of the proceeds of crime.
The case underscores the agency’s continued focus on dismantling financial structures linked to the late gangster-politician Mukhtar Ansari’s network, particularly those involving illegal property transactions and rent-based laundering mechanisms.
