ED seizes Rs 4.3 cr, freezes Rs 22 cr in jewellers’ accounts in Rs 645-cr public funds’ embezzlement case

The Enforcement Directorate (ED) has seized Rs 4.30 crore in cash and frozen Rs 22 crore of bank balances belonging to jewellers and their associates in a probe into the alleged embezzlement of Rs 645 crore in public funds in Haryana, India. Searches at 14 locations in Chandigarh, Mohali, and Panchkula uncovered incriminating documents and digital evidence.

The jewellers involved include Malik Jewellers, KLG Jewels, M.B. Gold Traders, Sham Jewellers, and Sunder Jewellers, as well as middleman Gourav Kansal. The embezzled funds allegedly passed through these accounts, disguised as legitimate business transactions. The mastermind, Ribhav Rishi, allegedly created shell entities to receive stolen funds, which were then laundered by the jewellers and transferred to corrupt government officials.

The CBI has filed a third chargesheet naming five Haryana-cadre IAS officers and a retired IAS officer in connection with the IDFC First Bank fraud. The ED has also filed a prosecution complaint against 14 accused persons and continues to investigate the case.