The Enforcement Directorate (ED) conducted extensive searches at more than 30 locations in Jharkhand's Dhanbad district as part of an investigation into an alleged illegal coal mining and money laundering network.

The operation was carried out under the Prevention of Money Laundering Act (PMLA), 2002, targeting individuals and entities suspected of generating and laundering proceeds from illegal coal operations.

Assets Worth Over ₹600 Crore Identified

According to the ED, investigators traced suspected assets valued at more than ₹600 crore during the operation.

Officials also froze mutual fund investments worth nearly ₹160 crore belonging to one of the accused and seized ₹1.02 crore in unaccounted cash.

The agency stated that the financial assets are believed to be linked to proceeds generated through illegal mining and coal transportation activities.

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Investigation Linked to Multiple FIRs

The money laundering case originates from several FIRs registered by the Jharkhand Police against the accused.

The FIRs allege illegal coal mining, coal theft, smuggling and extortion related to coal transportation in Dhanbad and nearby districts.

According to the ED, police have already filed charge sheets in several of these criminal cases, forming the basis of the ongoing financial investigation.

Properties and Financial Records Examined

The searches covered premises linked to key accused LB Singh and several other individuals, including Ganesh Yadav, Pappu Mandal, Rohit Yadav and Madho Singh, along with companies under the agency's scanner.

Officials recovered documents, digital devices, financial records and books of accounts that are expected to support the ongoing investigation.

The ED also said it collected information related to more than 200 immovable properties, which are suspected to have been acquired using proceeds of crime.

ED Probes Alleged Money Laundering Network

According to the agency, the accused allegedly used multiple individuals and business entities to route illegal earnings and disguise the origin of funds before investing them in movable and immovable assets.

Investigators are examining the seized documents and electronic evidence to trace the money trail and identify additional beneficiaries connected to the alleged network.

The investigation remains ongoing, and further action may follow based on the evidence collected during the searches.