ED Seizes Assets Worth Over ₹33 Crore in PMLA Raids Across Madhya Pradesh

By A Staff Reporter

Bhopal | The Enforcement Directorate (ED) conducted a series of search operations on December 27, 2024, targeting premises in Bhopal, Gwalior, and Jabalpur districts of Madhya Pradesh. The raids, carried out under the Prevention of Money Laundering Act (PMLA), 2002, were linked to an investigation involving Saurabh Sharma and his associates.

Incriminating evidence, including documents, movable assets, and property records, was unearthed during the operations. The ED announced that the searches revealed:

Fixed deposits exceeding ₹6 crore in the name of Chetan Singh Gaur, an associate of Saurabh Sharma.

Bank balances of over ₹4 crore linked to the family members and companies of Saurabh Sharma.

Documents pointing to immovable assets and properties worth more than ₹23 crore.

The total value of assets discovered during the operation surpasses ₹33 crore.

The raids are part of an ongoing probe into financial irregularities and alleged money laundering activities involving Sharma and his network. The ED stated that these findings substantiate its case and underline the scale of the suspected illegal activities.

Further investigations are underway to trace additional assets and establish the full extent of the financial trail. This operation highlights the ED's continued efforts to clamp down on money laundering and financial crimes in India.