ED Cracks Down on Money Laundering in High-Profile Raids Across India

The Enforcement Directorate (ED) has intensified its pursuit of high-profile money laundering cases, launching widespread searches across 15 locations in Karnataka, Goa, and Mumbai on Wednesday. The crackdown targets Karnataka MLA Satish Krishna Sail and associates, implicated in an illegal iron ore export scheme that allegedly cost the state exchequer Rs 38 crore.

Officials revealed that the forest department originally seized the consignment, which was then illicitly shipped abroad. The ED suspects the scheme's actual value may reach several hundred crores. The raids are part of an ongoing investigation into money laundering under the Prevention of Money Laundering Act (PMLA), involving financial transactions, property deals, and accomplice networks in illegal mining and exports.

In a parallel operation on Tuesday, the ED searched nine sites in Uttar Pradesh, Rajasthan, and Maharashtra concerning a separate money laundering probe against the Sahara Group. Conducted by the ED's Kolkata zonal office, these raids targeted transactions linked to land and share deals with Sahara entities. This investigation, stemming from multiple FIRs, addresses allegations of large-scale deposit fraud and financial irregularities.

(With inputs from agencies.)