India: Gold, real estate, shell companies preferred modes for laundering money post demonetisation: ED probe

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November 9, 2017
An year after demonetisation, the Enforcement Directorate (ED) has revealed that post demonetisation, businesses and professionals collaborated with each other to use shell companies for allegedly converting illegal wealth into legitimate assets.  India Today has accessed a copy of the documents prepared by ED which show that in some cases bank officials allegedly helped individuals convert huge amounts of demonetised currency into valid currency. Dubious investments in gold too were exposed post demonetisation, the report shows.