Ashok Kharat Money Laundering Probe: ED Seizes Gold, Silver And USD From Bank Locker In Nashik

Mumbai, May 6: The Enforcement Directorate (ED) on Tuesday, May 5, seized high-value assets from a bank locker in Nashik as part of its ongoing money laundering probe linked to Ashok Kharat. The recovery includes gold jewellery worth Rs 1.10 crore, silver items valued at Rs 1.89 lakh, and $5,500 in foreign currency, officials said.

ED opens Nashik bank locker during probe

The recovery was made at the Vishwas Cooperative Bank Ltd, Mumbai Naka branch in Nashik, where the agency operated Locker No. 555, held jointly by Ashok Kharat and his wife, Kalpana Kharat. The locker was opened in the presence of their daughter, Srushti Kharat, who was summoned to witness the proceedings.

Officials said the locker had been under the agency’s scanner since April 13, when the ED conducted searches at Kharat’s residential premises. During the searches, the agency recovered documents related to the locker and subsequently identified it through bank records, following which it was secured as part of the probe.

Gold jewellery and foreign currency seized

According to officials, the seized material largely comprised gold jewellery sets and ornaments, including heavy necklace sets, long gold chains, mangalsutra-style chains, multiple gold bangles, earrings, pendants, and bridal-style chokers. A smaller quantity of silver items was also recovered, including anklets, idols of Lord Ganesha and other deities, silver notes, and earrings.

Officials said the recovered jewellery and foreign currency are being treated as suspected Proceeds of Crime (PoC) under the Prevention of Money Laundering Act. The ED is examining whether funds used to acquire these valuables were diverted from the Rs 70-crore "ghost account" network recently unearthed across cooperative credit societies in Ahilyanagar and Nashik.

Probe linked to alleged ghost account network

The case centres on an alleged web of benami real estate investments and fictitious accounts used to launder money. So far, the agency has identified 134 such accounts across two cooperative credit societies, through which transactions exceeding Rs 70 crore were routed between 2022 and 2024, allegedly used by Kharat to channel funds through cooperative banking systems.

During the searches, the ED froze bank deposits worth around Rs 2.4 crore linked to Kharat and seized a Mercedes-Benz luxury car, which a complainant alleged was extorted through death threats and so-called “divine curses.”

Investigators trace multiple property documents

Officials said investigators recovered around 70–80 land-related documents, including sale deeds linked to properties in Pune, Nashik, and Solapur associated with Kharat and his family. Officials said these records point to a network of alleged benami assets and high-value properties, including a commercial office in Nashik, a wedding lawn in Shirdi, agricultural land parcels in Solapur and Sinnar, and a bungalow in Nashik’s Karmayogi Nagar.

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Agency officials found that a significant portion of these assets was held in the names of family members to conceal ownership. Documents indicate that several properties were registered in the name of Kharat’s wife, while others, including residential units and land parcels, were linked to his daughter, Srushti.

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