Mumbai, April 15, 2026: The Enforcement Directorate (ED) has traced a suspected money trail linked to the demonetisation period during searches conducted on Monday in connection with a money laundering probe against self-styled godman Ashok Kharat, officials familiar with the development said.
Multiple bank accounts under scanner
According to sources, the agency identified a money trail involving over 32 bank accounts allegedly associated with Kharat in a cooperative credit society in Sinnar, Nashik. During searches at the Kharat-linked Shri Jagdamba Mata Gramin Bigar Sheti Sahakari Patsanstha Maryadit, officials found that around Rs 1.86 crore was deposited in cash in these accounts during the demonetisation phase, 2016, when Rs 500 and Rs 1,000 currency notes were withdrawn from circulation. Investigations revealed that the amount available in these accounts was later converted into Fixed Deposits (FDs).
Suspicious timing of deposits
Officials said the timing of these deposits is under scrutiny as cash circulation was severely restricted after high-value currency notes ceased to be legal tender, leading to long queues and withdrawal limits. The deposits are suspected to be part of a larger attempt to route unaccounted cash into the formal banking system.
Following the maturity of these FDs, withdrawals totalling about Rs 3.18 crore were made during 2023–24, officials said. Investigators suspect the funds were subsequently channelled into benami land transactions by Kharat. The ED is probing the origin of the deposits and examining possible layering to conceal the source of funds.
Rs 63 crore transactions flagged
In a separate finding, the ED has flagged transactions exceeding Rs 63 crore routed through multiple accounts linked to Kharat at Samata Nagari Pat Sanstha in Ahilyanagar. Sources said 43 accounts were opened in 2021, followed by nine in April 2024 and three more in October 2024. These accounts are suspected to have been used by Kharat in a layered structure to facilitate benami property purchases in the names of family members, relatives, and associates.
Use of third-party accounts
Officials said Kharat allegedly opened several bank accounts in the names of third parties with cooperative credit societies in Nashik district. He is said to have listed himself as nominee and linked his mobile number to these accounts, allowing him to retain operational control.
Assets seized and accounts frozen
During the searches, the ED froze bank accounts 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.”
The agency also recovered 70–80 land-related documents, including sale deeds linked to properties in Pune, Nashik, and Solapur from Kharat’s residential premises. Several of these were in the names of family members and associates, while others appear to be linked to his “clients” or followers.
Cash, jewellery recovered during raids
During the searches, the ED seized cash of around Rs 42 lakh from the Pune residence of his Chartered Accountant (CA) Prakash Pophle and his son Harshad. Some jewellery was also recovered and is currently under evaluation.
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Summons issued, family details noted
The ED has issued summons to Kharat’s CA Prakash Pophle, his sons Lalit and Harshal Pophle, as well as his alleged close associate Rahul Deshmukh, whose Nashik premises were also searched during the operation.
Officials also noted that Kharat’s wife has been missing for the past 10 days, and her whereabouts are not known. His daughter was present during the searches, sources added.
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