Daijiworld Media Network - Jaipur

Jaipur, Apr 25: The Enforcement Directorate (ED) on Friday conducted raids at 10 locations across Rajasthan in connection with a Rs 25 cr loan fraud case reported by Punjab National Bank (PNB). The searches took place in Jaipur, Bikaner, Hanumangarh, and Sriganganagar, with the main accused, Amandeep Chaudhary, a resident of Sriganganagar, and his associates being targeted.

According to ED sources, the accused are alleged to have fraudulently secured the loan by falsely pledging goods stored in a warehouse, which were later sold in the market without informing the bank, thus violating the loan terms. Chaudhary, along with his wife Sunita and associate Om Prakash, is accused of orchestrating the fraud.

The Anti-Corruption Bureau (ACB) had initially registered the case in Jodhpur in October 2020. On Friday, raids were conducted at Amandeep Chaudhary's residence, business premises, and office in Dhanmandi, Sriganganagar, with a significant police presence assisting ED officials.

Officials have seized crucial documents, electronic devices, and are examining bank transactions, immovable assets, and associated accounts. The ongoing investigation is expected to uncover further details of the fraudulent activity. Sources suggest additional raids on other suspects' locations may follow, and Chaudhary is likely to be summoned for questioning. The case has been taken over by the ED under the Prevention of Money Laundering Act (PMLA).