Ranchi, 18 September (H.S.): The Ranchi Zonal Office of the Enforcement Directorate (ED) on Friday launched a major action under Section 17 of the Prevention of Money Laundering Act (PMLA) in connection with a multi-crore scam involving the Jharkhand State Cooperative Bank (JSCB). Teams of the investigating agency are simultaneously conducting search and seizure operations at a total of seven locations across Jharkhand and Odisha.

According to official sources, the action is being carried out as part of the ongoing investigation into a major financial fraud at the Seraikela branch of the Jharkhand State Cooperative Bank. The investigation has revealed that businessman Sanjay Kumar Dalmia allegedly committed large-scale fraud against the bank in collusion with then officials of JSCB.

The ED searches are focused on residential and commercial premises linked to businessman Sanjay Dalmia and the then bank officials. During the searches, the agency is examining key documents and digital evidence relating to financial irregularities, illicit transactions, diversion of funds and the acquisition of properties. The agency is conducting further investigations to ascertain the role of other suspects involved in the case and trace properties acquired from the proceeds of crime.

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Hindusthan Samachar / Jun Sarkar