ED's 11-Hour Raid on DMK Minister Uncovers Demonization Irregularities

The Enforcement Directorate conducted an intensive 11-hour raid on the DMK General Secretary Duraimurugan's residence in Vellore, Tamil Nadu. The operation is linked to a money laundering investigation involving the illegal exchange of currency during demonetization, breaching RBI guidelines, and bypassing government mandates against black money.

The Enforcement Directorate (ED) launched an exhaustive 11-hour raid on Friday at the home of DMK General Secretary and Tamil Nadu Water Resources Minister Duraimurugan in Vellore district. Initiated in the afternoon, the operation concluded at 1:35 AM on Saturday. This move forms part of a broader investigation into an alleged money laundering scheme related to Reserve Bank of India (RBI) guideline violations and bank official malpractice during the demonetization period.

Authorities raided four locations in Vellore tied to Duraimurugan and other suspects. The ED's probe centers around allegations that certain bank officials facilitated the unlawful exchange of Rs 200 notes for Rs 500 and Rs 1,000 notes. This illicit practice reportedly enabled individuals to evade government-imposed regulations designed to combat black money and counterfeit currency circulation.

The raids, including those at premises linked to Duraimurugan, seek to expose the scale of these transgressions and pinpoint those responsible. The demonetization, launched by the central government on November 8, 2016, sought to eradicate black money, eliminate Fake Indian Currency Notes (FICN), undermine terrorism financing, integrate informal economies into formal frameworks, and bolster digital transactions to reduce cash dependency.

(With inputs from agencies.)