Chennai, Sep 18 (NationPress) The Enforcement Directorate (ED) initiated sweeping searches in Chennai and Hyderabad on Thursday as part of an investigation into an alleged ₹200 crore bank fraud and benami property transactions associated with V. K. Sasikala, a close aide of the late Tamil Nadu Chief Minister J. Jayalalithaa.

Officials have confirmed that at least ten locations across both cities were targeted during these raids.

The properties involved are reportedly linked to a businessman identified as a suspected benami for Sasikala. The raids were executed under the Prevention of Money Laundering Act (PMLA).

This investigation is a continuation of a case previously registered by the Central Bureau of Investigation (CBI), which had filed an FIR concerning what it termed fraudulent banking activities amounting to hundreds of crores.

In response to this, the ED commenced its own probe into money laundering to trace the flow of illicit funds and locate properties that may have been unlawfully acquired or held in the names of benami holders.

Sources indicate that officials are currently seizing documents, financial statements, property deeds, and electronic evidence from the premises searched. These materials will be scrutinized to establish connections between the bank fraud and assets that might have been concealed through benami arrangements.

While the total extent of the seizures remains unclear, officials suggest that these raids are intended to reveal the full magnitude of transactions related to the case.

This event brings Sasikala back into the public eye. Having been a significant figure in Tamil Nadu politics for numerous years, she has faced multiple allegations and legal challenges regarding disproportionate assets.

The ED's recent actions have renewed scrutiny of her financial networks, particularly involving associates and business entities thought to be operating as fronts.

Investigators are expected to broaden their inquiry based on findings from the ongoing searches. Should evidence of laundering or concealment be substantiated, assets could be provisionally attached under the PMLA, with potential additional charges to follow.

The raids have also attracted political attention, with commentators noting that the timing and scale of the operation highlight the central agency’s renewed focus on high-profile economic crimes in Tamil Nadu.