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The Enforcement Directorate (ED) has frozen mutual fund investments worth nearly Rs 160 crore belonging to one accused LB Singh and seized unaccounted cash amounting to Rs 1.02 crore during searches at premises in Jharkhand's Dhanbad in connection with cases related to illegal coal mining, coal smuggling, extortion and other alleged illegal activities, an official statement said.
The searches were conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The premises covered are associates/relatives/entities of the above-mentioned persons and their directors (of entities), including Ganesh Yadav, Pappu Mandal, Rohit Yadav, Madho Singh, etc, ED said. ED said it initiated an investigation based on multiple FIRs registered by the State Police of Jharkhand against the said persons for their alleged involvement in the scheduled offences of illegal coal mining, smuggling of illegally mined coal/theft of coal, extortion/levy on lifting of coal and related illegal activities in the areas of Dhanbad & adjoining districts. The Police has also filed chargesheets in many cases. Investigations under PMLA revealed that the said persons have generated a huge amount of Proceeds of Crime by commission of scheduled offences. In this process, many entities/persons were used by them for layering of Proceeds of Crime as well as to show the origin as untainted. The Proceeds of Crime generated was later on utilized into acquisition of movable and immovable properties by them, it added. "During the search action, Investment in mutual funds by LB Singh of nearly Rs. 160Crore was frozen, and also, unaccounted cash amounting to Rs. 1.02 Crore was seized. Thesearch operations also resulted in seizure of substantial volume of incriminating evidence,including information/data related to more than 200 immovable properties (which is suspectedto be acquired from PoC), several digital devices, books of accounts of entities controlled bythe said persons, etc," ED said. Earlier in November 2025, searches were conducted in the related cases wherein the premises of Anil Goyal, LB Singh & related persons/entities were covered, they added. Further investigation is in progress. (ANI)
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