The Enforcement Directorate (ED), while taking a major action against the money laundering (money laundering), raided the locations of contractor Rishu Shri and seized cash of Rs 11.64 crore and several objectionable documents. This action was taken under the Money Laundering Prevention Act (PMLA), 2002.
The team of Patna Zonal Office of ED conducted this raid simultaneously in Bihar, Gujarat and Haryana. The places where action was taken include a total of nine hideouts of Patna and Muzaffarpur in Bihar, Surat in Gujarat and Panipat in Haryana.
Huge amount of cash and digital evidence recovered
During the investigation, ED has seized a total of ₹ 11.64 crore cash, digital devices (laptops, mobiles, hard disks) and objectionable documents related to several economic transactions. This cash was hidden at various places, which was seized by the ED team after a deep search.
According to the Enforcement Directorate, this action against Rishu Shri was taken under allegations of asset through suspected economic activities and illegal earnings. Initial investigation has revealed that the property and cash received with Rishu Sri is more than his known income.
Case can be related to corruption cases
According to sources, Rishu Sri has been associated with many big government tenders and construction works and he has serious allegations of corruption and money rigging in government projects. The investigation of the ED is also moving in the direction whether Rishu Shri used his influence and relationship to raise benami property and cash.
Investigation still continues
The ED has made it clear that this action is an early stage and is currently undergoing intensive investigation at several points. In the coming days, the involvement of more people in this case may be revealed. Forensic examination of recovered documents and digital evidence will be conducted.
