CHENNAI: Chasing an alleged Rs 200 crore bank fraud and benami property dealings linked to V. K. Sasikala, the confidante of late Tamil Nadu Chief Minister J. Jayalalithaa, the Enforcement Directorate (ED) on Thursday launched extensive searches in at least at least ten locations across Chennai and Hyderabad.
The investigation stems from a case registered by the Central Bureau of Investigation (CBI), which had earlier filed an FIR over what it described as fraudulent banking transactions running into hundreds of crores.
The premises connected to a businessman identified as an alleged benami of Sasikala were searched by the probe agency. The raids were conducted under the provisions of the Prevention of Money Laundering Act (PMLA).
Acting on this, the ED initiated its own money laundering probe to trace the flow of funds and identify properties suspected to have been acquired through illegal means or in the names of benami holders.
Sources said officials are seizing documents, financial records, property deeds and electronic evidence from the searched locations. These materials will be examined to establish links between the bank fraud and assets allegedly concealed through benami arrangements.
While the extent of seizures is not yet clear, officials indicated that the raids were aimed at unearthing the full scale of transactions connected to the case.
The action once again puts Sasikala back in the spotlight. A key player in Tamil Nadu politics for decades, she has previously faced allegations and legal battles over disproportionate assets.
