ED Initiates Raids at 10 Sites in Rajasthan Linked to PNB Loan Scam
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Synopsis
On April 25, the Enforcement Directorate executed raids at ten sites across Rajasthan related to a Rs 25 crore loan fraud case involving Punjab National Bank. The main suspect, Amandeep Chaudhary, is accused of fraudulently securing the loan.
Key Takeaways
- ED conducted raids at 10 locations in Rajasthan.
- The fraud involves Rs 25 crore loan from PNB.
- Main suspect is Amandeep Chaudhary.
- Goods were fraudulently pledged to secure the loan.
- Ongoing investigations may lead to further actions.
Jaipur, April 25 (NationPress) The Enforcement Directorate (ED) carried out raids at 10 different locations throughout Rajasthan on Friday, concerning a loan fraud case amounting to Rs 25 crore reported by the Punjab National Bank (PNB).
The operations took place in Jaipur, Bikaner, Hanumangarh, and Sriganganagar. As per ED sources, the primary suspect, Amandeep Chaudhary, a resident of Sriganganagar, and his associates are accused of unlawfully obtaining a Rs 25 crore loan from PNB.
In response to this information, ED teams executed raids at three locations in Jaipur, two in Bikaner, and five in Hanumangarh and Sriganganagar. The Anti-Corruption Bureau (ACB) had originally filed the case in Jodhpur in October 2020.
The suspects, including Amandeep Chaudhary, his wife Sunita Chaudhary, and Om Prakash, allegedly obtained the loan by falsely pledging goods stored in a warehouse.
These goods were later sold in the market without notifying the bank, breaching the loan agreement.
On Friday, raids were reported at the residence and business premises of Amandeep Chaudhary, including his office in Dhanmandi, Sriganganagar.
A significant police presence was deployed to support ED officials. Numerous vital documents and electronic devices have been confiscated so far, according to officials.
The ED is also investigating related bank transactions, real estate assets, and associated accounts. Officials indicate this operation might be crucial in revealing the full scale of the PNB loan fraud.
Sources suggest additional raids at the locations of other suspects may be forthcoming. Amandeep Chaudhary is also expected to be summoned for questioning. The ED has taken over the case under the regulations of the Prevention of Money Laundering Act (PMLA).
During the searches, the agency retrieved significant documents, bank records, digital devices, and property-related papers, which are currently under examination.
Further actions will be determined based on the results of the ongoing investigation, officials confirmed.
