ED's Major Seizure in Dentsu-Suumaya Scam

The Enforcement Directorate conducted raids on Dentsu India and Suumaya Group, unearthing Rs 50 lakh in currency and gold bars worth Rs 3.4 crore. The raids are part of an investigation into a Rs 137 crore embezzlement case, involving false 'Need to Feed' program claims and fraudulent transactions.

The Enforcement Directorate (ED) seized significant assets in a crackdown on Dentsu India and Suumaya Group, amidst allegations of a Rs 137 crore funds embezzlement. The operation unveiled Rs 50 lakh in various currencies and Rs 3.4 crore in gold bars.

The federal agency executed searches in Mumbai, Delhi, and Gurugram as it probes the so-called 'Suumaya-Dentsu case'. The case originates from a police FIR, accusing the named companies of defrauding funds under a sham government program titled 'Need to Feed'.

According to the ED, the accused fabricated documents to falsely represent transactions involving government contracts. This led to a perceived surge in company turnover, misguiding investors and artificially inflating stock prices. The investigation continues as the ED scrutinizes seized documents and digital data.

(With inputs from agencies.)