ED Raids Chandigarh, Mohali, and Panchkula in ₹645 Crore Embezzlement
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In a sweeping crackdown against high-level financial fraud, the Enforcement Directorate (ED) has launched synchronized raids across 14 distinct locations spanning Chandigarh, Mohali, and Panchkula. Executed by the ED's Chandigarh Zonal Office-II, the high-stakes operation forms a crucial part of an ongoing money laundering probe stemming from an alleged ₹645 crore embezzlement scandal involving government bank accounts linked to the Haryana administration and the Chandigarh Municipal Corporation.
Key Targets: Jewelry Firms and Middlemen Under Scrutiny
During Tuesday's coordinated operations, federal investigative teams searched the business and residential premises of several prominent local entities:
Jewelry Firms Raided: The ED inspected locations belonging to major regional jewelry businesses, including Malik Jewellers, KLG Jewellers, MB Gold Traders, Sham Jewellers, and Sunder Jewellers.
Middlemen Under the Scanner: Premises linked to key suspected intermediaries, such as middleman Gaurav Kansal, were thoroughly searched for incriminating financial trails.
According to initial findings from the investigation, embezzled government funds were allegedly funneled through jewilers' accounts under the guise of legitimate commercial transactions before being systematically diverted to high-ranking bureaucrats. The Central Bureau of Investigation (CBI) has previously lodged a third supplemental charge sheet in the matter, naming multiple individuals, including six Haryana-cadre IAS officers.
Previous Crackdowns and Ongoing Asset Attachments
Federal agencies have maintained sustained pressure on the accused syndicates throughout the course of the multi-jurisdiction investigation:
Arrests and Seizures: The ED has thus far arrested four key accused individuals in connection with the fraud.
Asset Attachments: Authorities have successfully attached and confiscated movable and immovable properties valued at ₹211 crore.
Prosecution Complaints: Formal prosecution complaints have been filed against 14 accused parties.
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