Overview
- Searches were conducted under the PMLA at 21 locations across Chennai, Kancheepuram, Mumbai and Kolkata.
- Officials seized Rs 22 lakh in cash and property documents worth over Rs 1.5 crore, along with incriminating papers and digital records.
- ED analysis of linked accounts found about Rs 2,000 crore in movements, including roughly 1,230 debits above Rs 10 lakh totaling around Rs 1,060 crore that suggest circular transactions and diversion of deposits.
- Police records cite 1,04,433 affected depositors with claims of about Rs 2,438 crore, a quantified default of Rs 1,404 crore, and a chargesheet filed in 2023 against 40 individuals and entities.
- The principal accused, V. Rajasekhar, remains absconding with his wife despite summons, and investigators report the use of dummy directors as the probe expands to identify beneficiaries and trace additional assets.