GG News Bureau
New Delhi, 7th Aug: The Enforcement Directorate (ED) on Thursday carried out extensive search operations at 12 locations across Jharkhand, West Bengal, and Maharashtra as part of an ongoing investigation into a large-scale financial fraud involving fraudulent GST invoices. The raids were conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The case pertains to a sophisticated financial fraud where shell entities and unauthorized financial networks were allegedly used to generate fake invoices worth approximately ₹5,000 crore. This resulted in fraudulent Input Tax Credit (ITC) claims of over ₹730 crore.
According to the probe agency, the latest searches are based on “fresh and credible evidence” pointing to the involvement of several additional individuals and entities suspected of facilitating the movement of illicit proceeds. The objective of the raids was to unravel a broader money trail, identify key beneficiaries, and seize incriminating material.
The alleged mastermind of the syndicate, Shiv Kumar Deora, was arrested in May and subsequently chargesheeted last month for his central role in orchestrating the racket.
While the agency has not yet disclosed details of any seizures or arrests from today’s operation, officials confirmed that the investigation is ongoing. The ED stated that this action is part of its continued crackdown on economic offenders who misuse financial systems to siphon off public revenue.
