The Enforcement Directorate (ED) has conducted searches at more than 30 locations in Jharkhand in connection with an alleged money laundering case linked to illegal coal operations, reported ANI.

The ED said, the operation led to the identification of suspected assets worth over ₹600 crore, according to a report by Free Press Journal.

Meanwhile mutual fund investments worth nearly ₹160 crore were frozen and ₹1.02 crore in cash was seized, news agency ANI reported.

The searches were carried out in Dhanbad district under the Prevention of Money Laundering Act (PMLA),2002. The officials examined locations associated with prime accused LB Singh and several individuals and entities believed to be connected to the case.

The premises related to Ganesh Yadav, Pappu Mandal, Rohit Yadav and Madho Singh, were searched, along with directors of companies under the ED’s scanner.

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Reports claim that the ED’s investigation began after the Jharkhand Police registered several FIRs against the accused over allegations of illegal coal mining, theft and smuggling of coal, as well as extortion related to coal transportation in Dhanbad and nearby districts.

The ED said police have already filed chargesheets in a number of these cases, news agency ANI reported.

Based on its investigation under the anti-money laundering law, the agency believes the accused generated substantial proceeds of crime through the alleged illegal activities.

The ED alleged that the accused used multiple individuals and entities to route the proceeds of crime and also to show the origin to make it feel legitimate.

According to the ED, the money was later invested in movable and immovable assets.

The searches led to the freezing of significant financial investments and the seizure of cash, while investigators also recovered documents and digital records that are expected to aid the ongoing probe, according to the hindustantimes.com