India News | ED Searches Seven Places in Jharkhand, Odisha in Alleged JSCB Scam Case
Get latest articles and stories on India at LatestLY. 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.
New Delhi [India], September 18 (ANI): The Enforcement Directorate (ED) on Friday conducted search and seizure operations at seven locations across Jharkhand and Odisha as part of its ongoing probe into an alleged scam 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 Seraikela branch in Jharkhand.
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The raids have been underway since early Friday based on certain inputs covering the premises of suspects in the case in close coordination with state police and security forces.
Officials said the case relates to the alleged fraud perpetrated upon the bank by businessman Sanjay Kumar Dalmia in connivance with then officials of the JSCB.
The ED action is part of its ongoing investigation into the alleged financial irregularities and the role of those involved in the suspected fraud.
"The searches are aimed at gathering documentary and other material evidence relevant to the money laundering investigation," officials, privy to the raids, said.
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, subject to the provisions of the law. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)