ED conducts searches in ₹177-cr. bank fraud case

The Enforcement Directorate on Thursday conducted searches in Delhi, Punjab and Jammu in connection with a ₹177-crore bank fraud case allegedly involving the son of a former J&K Minister.

“The searches were carried out at over a dozen places, including the premises linked to accused Hilal Ahmed Rather and those involved in the financial transactions which are under scrutiny,” said a senior ED official. Mr. Rather is son of former State Minister Abdul Rahim Rather.

It is alleged that the funds were used to acquire assets overseas, including a prime property in Dubai.

The ED probe is based on a case registered by the J&K’s Anti-Corruption Bureau, alleging that Mr. Hilal Ahmed Rather and his business associates had taken loans for a township project in Narwalbala. However, as alleged, most of the funds were diverted for other purposes.

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Printable version | Sep 19, 2020 3:11:21 AM |

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