Raj Shamani's Figuring Out ED Chief On Money Laundering, Black Money, Raid, Hawala & Bribe - Karnal Singh | FO379 Raj Shamani
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(00:00) – Intro
(01:55) – Cement Thief Story
(05:17) – Transfer Threats & Pressure
(08:05) – What Does the ED Really Do?
(10:05) – Italian Mafi* Link
(13:24) – Understanding the Money Laundering Act
(16:06) – Pink, Red & Black Money Explained
(17:14) – How Money Laundering Works
(27:09) – Can ED Target a Common Man?
(28:56) – What is Hawala & How It’s Done
(32:31) – Angadiya System & Legal Loopholes
(37:27) – High-Profile Cases & Bribery
(38:33) – What Happens to Recovered ED Money?
(40:10) – Why Do Fraudsters Flee to the UK & Nirav Modi
(43:04) – His Take on PM Modi
(43:56) – Brutal Interrogations Inside ED
(52:54) – Batla House Case Deep Dive
(1:06:30) – Best Countries for Money Laundering
(1:07:35) – Salary of the ED Chief
(1:09:45) – How Swiss Bank Accounts Actually Work
(1:12:23) – Inside an ED Raid
(1:14:45) – Final Words
(1:14:57) – BTS
(1:15:23) – Outro
In today’s episode, we have Karnal Singh, former Director of the Enforcement Directorate (ED), the man behind some of India’s biggest financial crime crackdowns, with over ₹33,000 crore recovered under his leadership. We spoke to him about whether powerful people really get away with anything in this country. And what’s it like to stand your ground when ministers pressure you to bend the rules?
We also talk about ED’s powers, how ED raids actually happen, and whether the agency can summon a common citizen without notice.
In the last segment, Mr. Singh opens up about the difference between a terrorist interrogation and an ED interrogation, what it feels like to know someone is guilty but let them go due to a lack of evidence, and the truth behind cases like Hasan Ali’s ₹48,000 crore Swiss bank saga. He talks about the toll the job takes, the demoralising comments made by politicians, and the reality of being an honest officer in a corrupt system.
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Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India.