In a significant development in the Rs109 crore illegal withdrawal case linked to the Energy Development Corporation, the Ranchi ATS and CID teams conducted a raid on Friday, recovering Rs60 lakh in cash and freezing Rs76 lakh across two bank accounts involved in the fraud.
The Special Investigation Team (SIT), led by ATS SP Rishabh Kumar Jha, is ramping up efforts in the investigation. The raid resulted in the seizure of Rs60 lakh from one of the accused’s homes, while Rs76 lakh was frozen in connection with illegal transfers made from the corporation’s funds.
Previously, the SIT had frozen Rs47.20 crore across 350 bank accounts and arrested six individuals, including a Central Bank manager and two employees from the Jharkhand Tourism Development Corporation (JTDTC). Additionally, Rs1.23 crore in cash and Rs16.7 lakh worth of jewelry were recovered.
Investigations have revealed that the Central Bank manager, Lolash Lakra, played a pivotal role in channeling funds from the Energy Corporation into real estate ventures. This led to the discovery of Rs37.18 lakh at a construction office on Oberoi Road.
Further probes also uncovered remnants of a mobile phone connected to the scam, traced back to Lakra’s residence in Dahootholi, Nagdi. While the mastermind, thought to be based in Kolkata, remains elusive, 909 bank accounts were utilized in the illicit withdrawals.
As the SIT continues its investigation, four charge sheets have been filed against the accused. Although the operation was led by ATS, police authorities have clarified that there is no connection to terrorist activities in this case. IG Operations Amol Venukant Homkar explained that the ATS’s involvement was due to their specialized expertise in handling such cases.