Ranchi: The Enforcement Directorate (ED) has registered an ECIR and launched a money laundering investigation into a scam involving the fraudulent withdrawal of over Rs 100 crore from the account of Jharkhand Urja Vikas Nigam Ltd (JUVNL).
The probe follows ED Director Rahul Navin’s October 2024 visit to Ranchi, during which he directed officials to gather facts for formal case registration. Initial findings suggest a larger conspiracy involving the creation of a fake account in the name of the Jharkhand Tourism Development Corporation (JTDC) at Canara Bank, using forged documents and cash deposits—bypassing the standard cheque-based process used for government accounts.
The scam surfaced after Rs 10.44 crore was transferred to the fake JTDC account, including employee pension funds. A deeper probe revealed multiple high-value transactions went unreported by banks, raising concerns over regulatory lapses.
A Special Investigation Team (SIT) had earlier categorized the case as cyber fraud. Around Rs 35 crore, routed through different accounts, has since been frozen as part of the ongoing investigation.
