In a massive operation, the Enforcement Directorate (ED) conducted simultaneous raids in four cities across India, leading to the discovery of unaccounted cash, foreign currency, gold bullion, and jewelry worth crores of rupees. The agency said that the searches were conducted at 24 locations in Ranchi, Patna, Mumbai, and Delhi, leading to the seizure of over Rs 1 crore in unaccounted cash, USD 1900, 540 kilos of gold bullion, and over 1.5 kilogrammes of gold jewelry valued at Rs 1 crore 25 lakhs.
In addition to the seizures, the ED claimed to have found several incriminating documents, including property documents, sale deeds held in the names of family members and benamidaars, and electronic gadgets. The agency stated that the documents demonstrated the illicit accumulation of enormous land banks by the family of former rail minister Lalu Prasad Yadav. The family allegedly fraudulently purchased multiple plots of property at important places in Patna and other areas in exchange for jobs offered by the railways. These land pieces are currently worth more than Rs 200 crore on the market, the agency claimed.
According to the ED, the investigation showed that the property in Delhi, which is registered in the name of M/s A B Exports Private Limited, a business that Tejashwi Prasad Yadav and his family own and manage, was only purchased for Rs 4 lakhs. The property’s current market worth, according to the statement, is around Rs 150 crore.
The ED said that the searches turned up around Rs 600 crore worth of proceeds of crime. The agency has initiated a probe into the matter and is likely to summon the accused for questioning. The raid comes in the wake of several high-profile cases of corruption and money laundering being investigated by the agency.
The Enforcement Directorate (ED) is a specialized law enforcement agency in India that investigates economic and financial crimes. The agency is responsible for enforcing laws related to foreign exchange, money laundering, and economic offenses. It operates under the jurisdiction of the Ministry of Finance and is headed by a Director. The ED has the power to conduct searches and seizures, arrest accused individuals, and initiate legal proceedings against them.