ED Seizes ₹5.12 Crore In Cash, Gold, Diamond Jewellery & Property Docs In Money Laundering Case Against Inderjit Yadav

(MENAFN- Live Mint) The Enforcement Directorate (ED) has seized cash worth ₹5.12 crore following a search operation in connection with a money laundering case against Inderjit Singh Yadav, a wanted criminal, his accomplices, Apollo Green Energy Ltd and other associated entities and persons under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

Yadav reportedly acts as the managing director of Gem Tunes.

In addition to the cash, one suitcase containing gold and diamond jewellery worth ₹8.80 crore and a bag full of cheque books and documents pertaining to properties worth ₹35 crore were seized during the search conducted on 30 December at a location in Delhi's Sarvpriya Vihar, as per ED officials.

Over 15 FIRs registered

According to officials, the investigating agency initiated a probe on the basis of more than 15 FIRs registered and charge sheets filed by the Haryana and UP police under various Sections of the Arms Act, 1959, BNS, 2023 and IPC, 1860 against Inderjit Singh Yadav and his associates.

The money laundering probe was launched following allegations that Inderjit Singh Yadav was involved in illegal extortion, forcing private financiers into coercive loan settlements, using weapons to intimidate victims, and earning commissions from the unlawful activities.

Who is Inderjit Singh Yadav?

According to a report by ANI, Inderjit Singh developed a website and used it to offer loan settlement between corporate houses and private financiers.

According to his LinkedIn profile, Inderjit Singh Yadav, who goes by Rao Inderjit Singh online and is a wanted criminal, also acts as the managing director of Gem Tunes.

Founded in 2020, the company is a“leading producer and curator of Haryanvi content”, as per Inderjit's LinkedIn profile.

What items have been seized by ED?

– Cash worth ₹5.12 crore. Bank officials have been called, along with cash-counting machines, to count the amount.

– One suitcase containing gold and diamond jewellery amounting to ₹8.80 crore.

– One bag containing cheque books and documents pertaining to properties estimated to be worth ₹35 crore approximately.

Officials also said that searches are currently underway.

ED attaches property worth ₹150 crore near Buckingham Palace

In a separate case, the ED, on Wednesday, attached an immovable property worth ₹150 crore near Buckingham Palace in London in a case of alleged bank loan fraud linked to money laundering involving textile major S Kumars Nationwide Ltd and its ex-CMD, Nitin Kasliwal.

The national probe agency said in a statement on Wednesday that a provisional order was issued under the Prevention of Money Laundering Act (PMLA) on Tuesday to attach the asset.

The“high-value” property valued at ₹150 crore near the Buckingham Palace is held under the“beneficial ownership” of Nitin Shambhukumar Kasliwal and his family members, the ED said.

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