Overview

• Searches covered Nagpur and Bhandara in Maharashtra and Guntur in Andhra Pradesh under the Prevention of Money Laundering Act.
• Officials seized incriminating documents and digital devices, recovered Rs 10 lakh in cash, and froze bank balances and insurance policies.
• The inquiry follows Maharashtra Police FIRs alleging defrauding of the then Corporation Bank, now Union Bank of India.
• ED attributes about Rs 113 crore in losses to 158 farmer-linked accounts tied to Ramana Rao Bolla and Rs 39.43 crore to 54 accounts tied to Nutan Rakesh Singh.
• A then assistant manager, Sandeep Revnath Jangale, is named as an alleged co-conspirator as authorities track properties bought with diverted funds.