ED raids 7 locations in Jharkhand State Co-op bank 'fraud' case
The raids target evidence in an alleged bank scam involving businessman Sanjay Kumar Dalmia and former officials, investigators said.
- On Friday, The Enforcement Directorate conducted search and seizure operations at seven locations across Jharkhand and Odisha regarding an alleged scam involving the Jharkhand State Co-operative Bank .
- Alleged large-scale fraud perpetrated by businessman Sanjay Kumar Dalmia in connivance with former JSCB officials at the bank's Seraikela branch prompted this investigation, officials stated.
- Section 17 of the Prevention of Money Laundering Act authorized The Enforcement Directorate's Ranchi Zonal Office to conduct searches and gather documentary evidence regarding suspected financial irregularities.
- Authorities are acting in close coordination with state police and security forces to secure material evidence linked to alleged proceeds of crime and advance the money laundering investigation.
- The ongoing probe empowers the ED to seize property or records connected with the suspected fraud, enabling significant investigative steps against those involved in the alleged financial mismanagement.
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LatestlyED searches seven places in Jharkhand, Odisha in alleged JSCB scam case
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 Seraikela branch in Jharkhand.
Bank Fraud: ED Raids Seven Places in Jharkhand, Odisha
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…
The ED raided seven locations in Jharkhand and Odisha in connection with the alleged ₹4.14 crore fraud at the Jharkhand State Cooperative Bank. The investigation into documents, bank records, and properties is ongoing under the PMLA.
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