Latest news with #EnforcementDirectorate
Indian Express
16 hours ago
- Indian Express
ED freezes assets worth Rs 1.5 crore in PMLA case against ex-bank officer
The Enforcement Directorate (ED) seized Rs 39 lakh in cash and froze assets worth Rs 1.5 crore in a money laundering probe linked to an online gaming platform and a bank during searches at seven locations across Delhi, Mumbai, and Bengaluru on May 29. The investigation involved Bedanshu Sekhar Mishra, a former officer in the Punjab & Sind Bank, his associates and key management persons of gaming platform, a spokesperson of the ED said. According to the ED, it seized Rs 39 lakh cash, along with various incriminating material, including digital evidence, multiple mobile phones and SIM cards being used for online gaming. 'During the search proceedings, ED has frozen a total amount of Rs 1.5 crore in 48 mule accounts being used by gaming platforms,' the spokesperson added. The ED initiated investigation on the basis of an FIR registered by the CBI against Mishra and others. 'Probe has revealed that Mishra while being posted as officer in the Punjab & Sind Bank, Khalsa College Branch in North Campus, reportedly misused his official position for carrying out fraud by conducting unauthorised transactions by breaking/liquidating 46 fixed deposit accounts of several customers… siphoned public money to the tune of Rs 52.99 crore…,' the spokesperson said. 'Probe has revealed that he has transferred the Proceeds of Crime amounting to around Rs 24 crore to online gaming platforms. The POC was transferred by the accused to these online gaming companies through various mule accounts arranged by the online platform owners. The ED has provisionally attached movable and immovable properties worth Rs 2.56 cr of Mishra and his associates,' the spokesperson said.
India Today
a day ago
- India Today
ED seizes assets worth Rs 1.5 crore in multi-state raids in online gaming fraud
The Enforcement Directorate (ED) has conducted search operations at seven locations across Delhi, Mumbai, and Bengaluru and seized cash and assets worth Rs 1.5 crore in a money laundering probe linked to an online gaming platform and a case involves a former Punjab and Sind Bank officer, his associates and key individuals connected to the online gaming platform searches, carried out under the Prevention of Money Laundering Act (PMLA), 2002, resulted in the seizure of Rs 39 lakh in cash, multiple mobile phones, SIM cards used in gaming activities and significant digital and documentary evidence. The ED also froze Rs 1.5 crore across 48 mule bank accounts allegedly used by the platform to move illegal investigation stems from a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI), Anti-Corruption Branch, FIR names Bedanshu Shekhar Mishra, a former bank officer at Punjab and Sind Bank's Khalsa College branch of Delhi University, and others under various sections of the Indian Penal Code, Prevention of Corruption Act and IT is accused of misusing his position to fraudulently access and liquidate 46 fixed deposit accounts belonging mainly to Sri Guru Tegh Bahadur Khalsa College. The total defrauded amount stands at Rs 52.99 to the ED, nearly Rs 24 crore of the misappropriated funds were funnelled into online gaming platforms like via a web of mule accounts to conceal the money the ED had attached assets worth Rs 2.56 crore belonging to Mishra and his associates under Section 5 of the PMLA. Further investigations were ongoing to trace the remaining proceeds and uncover links between financial fraud and online betting operations.
Time of India
2 days ago
- Business
- Time of India
CBI arrests ED dy director in ‘bribery' case
Bhubaneswar: The CBI on Friday arrested Chintan Raghuvanshi, deputy director of the Enforcement Directorate (ED) in Bhubaneswar, and another middleman Bhakti Binod Behera for allegedly demanding bribe from a miner for sparing him in a money laundering case. Even though CBI FIR stated Raghuvanshi's 'direct role' is being investigated, agency sources said they have found prima facie evidence against him. According to a complaint by businessman Rohit Kumar Rout with the CBI on May 28, the ED had initiated a money laundering case against him in 2020 concerning alleged financial discrepancies in his stone crusher operations in Dhenkanal district. On Jan 8 this year, the ED conducted searches at his residence and office in Bhubaneswar. Subsequently, he received a summons in March and was questioned at the ED office. Rout alleged that Raghuvanshi, a 2013 batch IRS officer, through his intermediary Behera, demanded Rs 5 crore to give him a clean chit in the case. The alleged deal also included assurances against his arrest and attachment of properties, including his hospital. The amount was subsequently brought down to Rs 2 crore, Rout stated in his complaint. Behera told Rout to deliver the initial payment of Rs 50 lakh at 11am on Thursday. "CBI sub-inspector Ayan Mishra verified the complaint. The verification confirmed Bhakti's (Behera) instructions to Rout regarding the Rs 50 lakh initial payment towards the total Rs 2 crore bribe demand," CBI's FIR stated. According to sources, while the deal was being finalised inside a building in Saheed Nagar area on Thursday evening, CBI personnel intervened. CBI sources said Rout had taken Rs 20 lakh as part payment. Raghuvanshi and Behera were taken to the CBI office where they were detained and faced questioning. "Both of them were arrested on Friday. They were remanded in judicial custody following rejection of their bail pleas," a CBI source said. "As direct role of Chintan Raghuvanshi could not be verified at this stage, it was decided to proceed the case only against Behera, and to look into Raghuvanshi's role during investigation. Hence, a regular case is registered against Bhakti," the FIR added.
NDTV
2 days ago
- NDTV
Top Enforcement Directorate Official Arrested For Taking Bribe Of Rs 20 Lakh
Bhubaneswar: The Central Bureau of Investigation (CBI) has arrested Chintan Raghuvanshi, Deputy Director of the Enforcement Directorate (ED) in Bhubaneswar, in a high-profile bribery case. Mr Raghuvanshi, an Indian Revenue Service (IRS) officer, was allegedly caught red-handed during a trap operation while accepting a Rs 20 lakh bribe from a mining businessman in Bhubaneswar. According to the CBI Advocate, the total bribe demand was Rs 2 crore and Rs 20 lakh was received as part of the bribe. The CBI advocate said, "The ED Deputy Director (arrested ED officer) had demanded a bribe. He had demanded Rs 2 Crores and received Rs 20 Lakhs. We have arrested him. He has now been sent to jail under judicial custody." The court has remanded Raghuvanshi to judicial custody for 14 days, and the matter has been posted for further hearing on the bail application. The operation was part of a wider investigation into alleged corruption within the ranks of the ED (Enforcement Directorate). Following his arrest, Raghuvanshi was produced before the court today after his medical examination at the capital hospital. Advocate Sidhant Mohanty appeared on behalf of the accused during the bail proceedings. Mohanty said, "The Bail hearing was done today, and an FIR has been registered under section 7 of the PC Act (Prevention of Corruption Act). The matter is posted to the 4th of June. The investigation is supposed to continue." The court, after hearing initial arguments, sent Raghuvanshi to judicial custody. The matter has now been posted for further hearing on the bail application on June 4. An FIR has been registered under Section 7 of the Prevention of Corruption Act, and the investigation is ongoing.
India Gazette
2 days ago
- Business
- India Gazette
Delhi HC denies interim bail to Arvind Dham in money laundering case
New Delhi [India], May 30 (ANI): The Delhi High Court on Friday refused to grant interim bail to Arvind Dham in a money laundering case in view of allegations against him. He has been in custody since July 2024. His regular bail has been pending before the High Court since February 2025. The Enforcement Directorate (ED)'s allegation is that there are multiple thousand crores of proceeds of crime. Justice Ravinder Dudeja refused to grant interim bail in view of the seriousness of the allegations levelled against him. However, the court has expedited the bail hearing and listed the matter on July 15. Senior advocate Vikas Pahwa submitted that Dham should be granted interim bail during the pendency of his petition, which has been pending since February 2025. He has been in custody for the past 11 months and has a history of medical illness. Special counsel Zoheb Hossain opposed the submissions made on behalf of the accused. Special public prosecutor (SPP) Manish Jain, along with Snehal Shard, appeared for the ED. The bench refused to grant him the relief. Dham was arrested in July 2024 by the ED in a money laundering case linked to alleged bank fraud. Earlier, the CBI had registered a case against the Amtek group. There are allegations of bank fraud of around Rs. 20,000 crores. On June 20, 2024, the Enforcement Directorate (ED) conducted searches at 35 places in Delhi, NCR, and Maharashtra against Amtek Group in connection with a huge bank fraud case involving more than Rs 20,000 crores in several listed companies. These companies were finally taken over in an NCLT proceeding at a nominal price, leaving a consortium of banks with a nominal recovery. Raids were conducted across Delhi, Gurugram, Noida, Mumbai and Nagpur under the Prevention of Money Laundering Act (PMLA) on Amtek Group led by Arvind Dham, Gautam Malhotra and others. The alleged fraud led to a massive loss to the exchequer of approximately Rs 10-15 thousand crores, said the ED. ED investigation started based on the Central Bureau of Investigation (CBI) First Information Report (FIR) in one of the group entities, ACIL Limited, and as per the Supreme Court's directions to investigate the fraud. Further, ED said its investigation revealed that loan funds were siphoned off to invest in real estate, foreign investment, and new ventures. As per the agency, fictitious sales, capital assets, debtors and profit were shown in group concerns to get more loans so that it doesn't get NPA. (ANI)
