Bhopal (Madhya Pradesh): The Directorate of Enforcement conducted raids on multiple premises linked to a chartered accountant, B C Jain in connection to an alleged money laundering case in Bhopal, said officials here on Wednesday.
According to officials, the ED team initiated the operation at 6 am in Arera Colony. The action was following complaints of large-scale money laundering and alleged involvement in converting black money into white.
Raids were carried out at half a dozen locations in Bhopal, targeting the CA and his associates. It was claimed that the CA had prepared an inflated audit report and on the base of the report, the company directors obtained loan of Rs 44 crore from a nationalized bank. Later the account turned into NPA.
Earlier in 2019 and 2022 the CBI had conducted raid and have registered FIR against the company. The company was dealing with the automobile business and allegedly the CA firm prepared the report hiding the fact about the company financial health, said officials.
The details of the seizures like cash, jewellery, bank accounts, lockers, property investment, property details will be given after the compilation of the report, said officials.
