The Enforcement Directorate (ED) has launched a significant operation against Indrajeet Singh Yadav and his associates in Delhi, uncovering a large-scale money laundering scheme. In a series of coordinated raids, the ED seized assets exceeding ₹50 crore, which include ₹5, while 12 crore in cash and gold and diamond jewelry valued at approximately ₹8. 80 crore. This decisive action was carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, targeting Yadav for alleged involvement in illegal extortion, forced loan settlements, and the subsequent laundering of illicit funds generated from these activities.
Grave Allegations Against Indrajeet Yadav
According to the ED's thorough investigation, Indrajeet Singh Yadav faces serious accusations. These include engaging in illegal extortion, coercing private financiers into forced loan settlements, and threatening individuals with weapons. It's alleged that Yadav earned substantial commissions from these unlawful operations, while the ED suspects that the money generated through these criminal activities was then laundered to integrate it into the legitimate financial system. Entities such as Apollo Green Energy Limited and other associated individuals and organizations are also under scrutiny, believed to be part of this intricate money laundering network.
Investigation Rooted in Haryana and UP FIRs
The ED's probe was initiated based on more than 15 First Information Reports (FIRs) and charge sheets filed by the police forces in Haryana and Uttar Pradesh, while these cases involve various sections of the Indian Penal Code (IPC) 1860, the Arms Act 1959, and the recently enacted Bharatiya Nyaya Sanhita (BNS) 2023. The gravity of the offenses detailed in these initial police reports prompted the ED to intervene and. Investigate the money laundering aspects, ultimately leading to the extensive enforcement action that has now come to light.
High-Profile Raid at Associate's Delhi Residence
On December 30, the ED specifically targeted a location linked to Aman Kumar, identified as a close associate of Indrajeet Singh Yadav. This premises is situated in the upscale Sarvapriya Vihar area of Delhi, while during this particular raid, ED officials discovered and recovered substantial quantities of cash and other valuable items from Aman Kumar's residence, further underscoring the seriousness and scale of the alleged criminal enterprise.
Significant Recoveries from the Raid
During the raid, the ED made several crucial recoveries. Firstly, approximately ₹5. 12 crore in cash was found. The sheer volume of this currency necessitated the presence of bank officials and cash counting machines at the site to accurately tally the amount, highlighting the extensive nature of the illicit financial transactions. On top of that, a suitcase filled with gold and diamond jewelry was seized, estimated to be worth around ₹8. 80 crore. These luxurious items are believed to be part of the proceeds of crime, while Plus, a bag containing multiple checkbooks and documents linked to properties valued at approximately ₹35 crore was also recovered. These documents are expected to shed light on the immovable assets acquired by Yadav and his network using laundered funds.
Total Seizures Exceeding ₹50 Crore
From this single raid in Delhi, the ED successfully seized assets totaling over ₹50 crore, encompassing ₹5. 12 crore in cash, ₹8, while 80 crore in jewelry, and documents pertaining to properties worth ₹35 crore. This significant recovery vividly illustrates the financial capacity of Indrajeet Singh Yadav's alleged illicit network and the extensive scale of the money laundering operations he's accused of orchestrating, while according to ED officials, searches are continuing at other locations connected to the case, and further revelations are anticipated as the investigation progresses. Upon the completion of the inquiry, appropriate legal action will be taken regarding. The recovered money and properties, which may include their formal attachment and confiscation.
ED's Parallel Action on Crypto World Trading Company Fraud
In a separate but equally important development, the ED also conducted another significant operation, demonstrating its broad mandate against financial crimes. On December 24, the agency carried out search operations at nine residential premises across Ambala, Kurukshetra, Karnal, and Chandigarh. This particular operation was in connection with a multi-crore rupee fraud involving a fake entity named 'Crypto World Trading Company,' which allegedly duped investors under the guise of investment schemes. During these searches, the ED seized several incriminating documents, digital evidence, and ₹4 lakh in cash. This action underscores the ED's continuous vigilance against various forms of financial. Fraud and money laundering schemes, whether traditional or those leveraging modern digital platforms.
