ED conducts raids at seven Jharkhand co-op bank locations in fraud probe

The Enforcement Directorate (ED) on Wednesday conducted coordinated raids at seven locations across Jharkhand in connection with an alleged fraud case involving the Jharkhand State Cooperative Bank. The multi-location search operation targeted premises believed to be linked to the investigation into the purported financial irregularities.

Businessman Sanjay Kumar Dalmia is at the centre of the ED's inquiry, which focuses on allegations of large-scale fraudulent transactions at the cooperative banking institution. The raids are part of the agency's broader probe into the matter, aimed at gathering evidence and documents related to the suspected violations.

The simultaneous operation across multiple sites suggests the ED is pursuing multiple leads in the case. Officials are examining financial records, transaction details, and other documentation to establish the extent and nature of the alleged irregularities.

The investigation underscores growing concerns about governance and financial controls in cooperative banking institutions operating across the region. The ED's intervention reflects the seriousness with which authorities are treating allegations of large-scale fraud in the financial sector.