ED Raids Across Multiple Cities in ₹70 Crore bank Fraud Case
Enforcement Directorate (ED) conducted raids in Delhi, Hyderabad, Jaipur, and Mumbai.
The raids targeted a money laundering probe linked to an alleged bank loan fraud worth ₹70 crore.
The action follows an FIR filed by the Central Bureau of Investigation (CBI) against Yashdeep Sharma and his family.
Punjab & Sind bank accused Sharma and family of misusing a ₹70 crore loan taken through companies they own and control.
The loan amount was reportedly diverted to entities not involved in any genuine business activity.
ED’s investigation focuses on tracing the flow of funds and uncovering evidence of money laundering.
Lokayukta Raids on 12 government Officials in Karnataka
Karnataka Lokayukta conducted simultaneous raids at premises of 12 government officials across the state.
The raids are connected to an illegal property case.
Officials raided include surveyors from the Bangalore Metro rail Corporation Limited (BMRCL) land acquisition department.
Other officials targeted are from the health and Family Welfare, Agriculture, Transport Departments, and Rural Infrastructure Development Corporation.
Raids began early tuesday morning at various locations.
Suspicious documents and property records were seized during the operations.
The Lokayukta aims to uncover illegal activities related to property acquisition and misuse of authority.
Summary
ED’s nationwide raids aim to probe large-scale bank fraud and money laundering involving ₹70 crore.
CBI’s FIR against Yashdeep Sharma highlights misuse of bank loans through shell companies.
Karnataka Lokayukta’s raids focus on illegal property dealings involving multiple government officials.
Both agencies are intensifying efforts to combat corruption and financial crimes across sectors.
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