Enforcement Directorate Raids Amid Bank Loan Fraud Probe

The Enforcement Directorate conducted searches in connection to a bank loan fraud case in Arera Colony, targeting premises linked to an auditor. The raids, under the Prevention of Money Laundering Act, involved approximately four to five locations. This action forms part of an ongoing money laundering investigation.

The Enforcement Directorate executed searches across multiple locations on Wednesday, targeting entities in connection with a significant bank loan fraud case, officials reported.

Raids are taking place in Arera Colony with a particular focus on premises affiliated with an auditor. Linked locations are also under the enforcement's scrutiny, according to sources.

Carried out under the Prevention of Money Laundering Act (PMLA), the investigation encompasses about four to five sites, all tied to suspicions of money laundering activities linked to the alleged banking fraud.

(With inputs from agencies.)