New Delhi: The Enforcement Directorate (ED) on Friday conducted search and seizure operations at seven locations across Jharkhand and Odisha as part of an ongoing probe into an alleged fraud involving officials of the Jharkhand State Co-operative Bank (JSCB).
Officials said the searches were carried out under Section 17 of the Prevention of Money Laundering Act (PMLA) in connection with an alleged large-scale fraud at the JSCB’s Saraikela branch in Jharkhand.
The raids have been on since early Friday based on certain inputs covering the premises of the suspects in the case on close coordination with state police and security forces/
The officials said the case relates to the alleged fraud perpetrated upon the bank by businessman Sanjay Kumar Dalmia in connivance with JSCB officials.
“The searches are aimed at gathering documentary and other material evidence related to the money-laundering investigation,” an official privy to the raids said.
Further details about the suspects and the premises raided are awaited.
ED’s Ranchi zone unit has been investigating the alleged JSCB fraud under the provisions of the PMLA, which empowers the agency to conduct searches and seize property or records connected with proceeds of crime under the Act.