ED conducted Raids against Punjab & Sind Bank Officer in Rs 52.99 Crore Fraud Investigation
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Directorate of Enforcement (ED), Delhi Zonal Office has conducted search operations on 29.05.2025 at 7 locations at Delhi, Mumbai and Bengalore in an ongoing investigation under the provisions of Prevention of Money Laundering Act (PMLA), 2002 against Bedanshu Sekhar Mishra, the then officer in the Punjab & Sind Bank, his associates and key management persons of gaming platform GOA247.LIVE.
ED has seized cash amount of Rs. 39 Lakh along with various incriminating material including digital evidences, multiple mobile phones and SIM cards being used for online gaming, etc. Further, during the search proceedings, ED has frozen total amount of Rs 1.5 Crore in 48 mule accounts being used by the gaming platform.
The investigation was initiated on the basis of FIR registered by CBI, ACB, New Delhi, under various sections of IPC, 1860, PC Act 1988 and IT Act, 2000 against Bedanshu Shekhar Mishra & others.
ED investigation revealed that Bedanshu Shekhar Mishra, while being posted as officer in the Punjab & Sind Bank, Khalsa College Branch, North Campus, Delhi University, has reportedly misused his official position for carrying out fraud by conducting unauthorized transactions by breaking/liquidating 46 fixed deposit accounts of several customers, primarily fixed deposit accounts in the name of SGTB Khalsa College, Delhi University. Thus, he committed fraud and forgery with the bank as well as several account holders of the bank and misappropriated/siphoned public money to the tune of Rs. 52.99 Crore entrusted with the bank.
It is revealed during the investigation that he has transferred the Proceeds of Crime (POC) amounting to Rs. 24 Crore (approx.) to online gaming platforms such as Goa247.live. The POC was transferred by the accused to these online gaming companies through various mule accounts arranged by the online platform owners.
Earlier, ED provisionally attached movable and immovable properties worth Rs. 2.56 Crore of Bedanshu Shekhar Mishra and other associates under Section 5 of PMLA, 2002. Further investigation is under progress. More details will be released soon.
