Indore (Madhya Pradesh): Enforcement Directorate (ED) against the accused in Rs 125 crore fake bill scam of Indore Municipal Corporation (IMC), the agency seized Rs 22.05 crore including Rs 1.25 crore in cash and investment documents (mutual funds, fixed deposits etc) to the tune of Rs 20.80 crore, all of which were frozen.
ED officials of Indore sub-zonal office conducted search operations at 20 locations in the city on August 5 and 6 in connection with the case of IMC fake bills scam under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
According to a press release of ED issued on Wednesday. ED investigation revealed that various contractors in connivance with IMC officials hatched criminal conspiracy and generated proceeds of crime (PoC) by presenting fake bills of drainage construction work.
The work for which fake bills were generated were neither carried out on the ground nor verified by IMC's account and audit department, before making payment.
The PoC generated by presenting fake bills before IMC by various private contractors were laundered between them
and various IMC officials. Further investigation is under progress.
The biggest ever search of ED on accused of Rs 125 cr fake bill scam of IMC concludes
