On Friday morning, the Enforcement Directorate (ED) raided 10 locations across Rajasthan in connection with a ₹25 crore fraud case linked to Punjab National Bank (PNB). The raids were conducted in cities including Jaipur, Bikaner, Hanumangarh, and Sriganganagar.
Background of the Fraud
According to ED sources, the fraud was carried out by Amandeep Chaudhary, a resident of Sriganganagar, and his accomplices. They allegedly took a ₹25 crore loan from Punjab National Bank (PNB) by using goods stored in a warehouse as collateral. However, instead of keeping the goods in the warehouse, they sold them in the market without informing the bank, which led to the fraud.
Locations Raided
The ED raided several locations in connection with the fraud:
- Jaipur: Three locations
- Bikaner: Two locations
- Hanumangarh and Sriganganagar: Five locations
The raids targeted properties linked to Amandeep Chaudhary, including his residence and business premises in Sriganganagar and his office in Dhanmandi. The local police were also deployed to support the operation.
Key Findings from the Raids
During the raids, the ED seized several important documents, digital devices, and other materials. The investigation team is currently reviewing these documents, including bank records, property-related files, and financial transactions. The ED is focusing on a detailed analysis of the bank transactions, immovable properties, and accounts linked to the accused. This is seen as a crucial step in uncovering more details about the ₹25 crore fraud.
Investigation Under Money Laundering Laws
The fraud case was originally registered by the Anti-Corruption Bureau (ACB) in Jodhpur in October 2020. However, the Enforcement Directorate has now taken over the case under the Prevention of Money Laundering Act (PMLA). The ED is examining the records and evidence gathered during the raids and will decide on further actions based on the findings.
Future Action
The ED has indicated that more raids could be conducted at the hideouts of other individuals linked to the case. Additionally, Amandeep Chaudhary may be called in for questioning as part of the ongoing investigation.
The ED’s efforts are expected to reveal more details about the fraudulent activities and possibly lead to further arrests or actions in the coming days.
