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Money laundering case: ED conduct searches in Punjab, Chandigarh among 19 locations

During the search operation, ED seized a total amount of Rs 43.48 lakh in cash and Rs 64.22 lakh in bank balances of the searched persons, along with a Toyota Fortuner car worth Rs 35 lakh

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Shefali Kohli
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Money laundering case: The Enforcement Directorate conducted searches at 19 locations on the premises of Golden Land Developers Limited in a money laundering case.

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The raids were conducted at 19 places in Odisha, Punjab, Chandigarh, and Delhi and were made under the provisions of the Prevention of Money Laundering Act.

During the search operation, Enforcement Directorate seized a total amount of Rs 43.48 lakh in cash and Rs 64.22 lakh in bank balances of the searched persons, along with a Toyota Fortuner car worth Rs 35 lakh. 

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Moreover, various incriminating documents, including property papers for 1500 acres related to the case and digital devices, have also been seized from various premises.

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The Enforcement Directorate (ED) launched an investigation following a First Information Report filed against the company by the Central Bureau of Investigation, SPE, Kolkata, under multiple sections of the Indian Penal Code. 

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Through its probe, the ED uncovered that the accused individuals, entities, and companies had amassed substantial funds from the public under the guise of real estate development.

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A large-scale diversion of cash to sister concerns and to the accounts of directors and associates has also been unearthed," ED said in the official statement. 

 

enforcement-directorate money-laundering-case ed-raids-in-punjab Golden Land Developers Limited
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