Ranchi, Sept 22: The Enforcement Directorate (ED) on Tuesday conducted searches at seven locations in Jharkhand and Odisha as part of its money-laundering investigation into alleged financial irregularities at the Seraikela branch of the Jharkhand State Co-operative Bank (JSCB).
The searches were carried out by the ED’s Ranchi Zonal Office under Section 17 of the Prevention of Money Laundering Act (PMLA). Residential, business and office premises linked to people associated with the case were searched during the operation.
The investigation relates to alleged irregularities in loans and financial transactions at the Seraikela branch of JSCB. The agency is examining the movement of funds and financial transactions to determine whether money linked to the alleged bank fraud was diverted or transferred through other accounts or entities.
Businessman Sanjay Kumar Dalmia has been named in connection with the case. The investigation also concerns the alleged role of officials who were associated with the bank at the time of the suspected irregularities.
The searches extended beyond Jharkhand, with premises in Bhubaneswar, Sambalpur and Sundargarh in Odisha also reportedly coming under the agency’s scrutiny.
Officials are examining documents, banking records and other financial material collected during the searches to establish the alleged money trail and determine the roles of individuals connected with the case.
The ED has not yet disclosed the complete details of the material seized during the operation.The latest action is part of the agency’s continuing investigation into the alleged financial irregularities at the co-operative bank.
Further action will depend on the evidence gathered during the probe and subsequent legal proceedings.The allegations remain under investigation, and the searches do not by themselves establish the guilt of any individual or confirm the allegations.
