Enforcement Directorate Raids RJD MLA, Others in Bihar Cooperative Bank Case

The Enforcement Directorate (ED) conducted searches at 18 locations, including premises linked to RJD MLA and former Bihar minister Alok Kumar Mehta, as part of a money laundering probe into alleged fund embezzlement at a state cooperative bank.

The raids were carried out in Bihar, West Bengal, Uttar Pradesh, and Delhi. Mehta, who is the promoter of the Bihar-based Vaishali Shahri Vikas Cooperative Bank, was under scrutiny along with other linked entities.

The money laundering investigation stems from FIRs filed against the bank and its office-bearers, accusing them of embezzling funds worth approximately Rs. 85 crore.

The alleged fraud involved nearly 400 fraudulent loan accounts and the disbursal of funds based on fake or forged warehouse and LIC receipts.