New Delhi, Oct 14 (UNI) The Enforcement Directorate (ED) is conducting extensive searches today at four locations across the country, Delhi, Hyderabad, Jaipur, and Mumbai, in a major bank fraud case involving Yashdeep Sharma and others.
The investigation originates from an Enforcement Case Information Report (ECIR) registered by the ED, based on the Central Bureau of Investigation (CBI) FIR.
The CBI had initiated the case following a formal complaint from Punjab and Sind Bank.
According to the investigating agencies, Yashdeep Sharma, along with his family members, allegedly siphoned bank loans and funds amounting to about Rs 70 crore.
The ED stated that the accused diverted substantial loan amounts to various entities owned and controlled by Sharma.
These entities were reportedly not engaged in any genuine business activities, suggesting that the funds were misappropriated.
The locations being raided are linked to entities and individuals closely associated with Yashdeep Sharma.
The searches aim to gather further evidence related to the movement and utilisation of the defrauded funds.
This operation underscores the ongoing crackdown by financial enforcement agencies on complex bank fraud cases across the country.
