ED raids properties of Bihar RJD MLA Alok Mehta in bank loan scam probe
The Enforcement Directorate is conducting raids on properties linked to RJD leader Alok Mehta in connection with a money laundering investigation involving embezzlement at a cooperative bank in Bihar.
The Enforcement Directorate (ED) has launched a significant operation targeting multiple properties linked to Alok Mehta, a prominent leader of the Rashtriya Janata Dal (RJD) and a former minister in Bihar. As part of a money laundering probe, ED officials conduct searches across 18 locations in Bihar, West Bengal, Uttar Pradesh, and Delhi. The raids focused on Mehta’s premises and entities associated with him, including his involvement with the Vaishali Shahri Vikas (VSV) Cooperative Bank.
Sources indicate that the investigation stems from allegations of embezzlement of approximately Rs 85 crore at the VSV Cooperative Bank. The case was initiated following FIRs filed by the state police against the bank and its officials, who are accused of misappropriating funds. The Reserve Bank of India (RBI) had previously verified the bank’s operations, leading to the discovery of financial irregularities and the diversion of funds.
Mehta, a member of the Bihar Legislative Assembly representing the Ujiarpur seat, has been a senior leader in the RJD, a party led by Lalu Prasad Yadav. He has also served as the state's Minister for Revenue and Land Reforms. As the promoter of the VSV Cooperative Bank, Mehta is a key figure in the ongoing investigation.
The raids, which began on Friday morning, have drawn significant attention due to their scale and the high-profile nature of the individuals involved. While the Enforcement Directorate has not issued an official statement, sources suggest that the focus is on uncovering money laundering activities linked to the alleged embezzlement.
The investigation is part of a broader crackdown on financial irregularities and illegal money transactions across the country. However, neither Mehta nor his political party, the RJD, have offered any immediate response to the ongoing searches.
The outcome of this investigation could have far-reaching implications for both Mehta and the political dynamics in Bihar.
(PTI inputs)