Money Laundering Probe Unveils Cooperative Bank Scandal

The Enforcement Directorate conducted searches across multiple states targeting properties linked to RJD MLA Alok Kumar Mehta in a money laundering probe into an alleged embezzlement of Rs 85 crore from a cooperative bank. The investigation, based on state police FIRs, involves fraudulent loans and fake documents.

The Enforcement Directorate (ED) on Friday raided several locations, including Bihar, as part of an inquiry into money laundering tied to alleged embezzlement at a cooperative bank, sources revealed. The operation involves premises associated with RJD MLA Alok Kumar Mehta and other related entities.

Authorities report that 18 sites in Bihar, West Bengal, Uttar Pradesh, and Delhi are under scrutiny. The investigation roots from police FIRs regarding alleged embezzlement of Rs 85 crore through fraudulent loan accounts.

Senior RJD figures criticized the action, tagging it as central government misuse of agencies against opposition. The Reserve Bank of India had previously highlighted anomalies in bank fund diversions, prompting further probes.

(With inputs from agencies.)