ED Cracks Down: Seizes Rs 97.92L from Jharkhand Ex-Bank Chief in Scam

A stunning blow to financial crime networks: ED’s Ranchi unit has seized Rs 97.92 lakh in properties tied to ousted SBI manager Manoj Kumar. The haul features a Jharkhand house in Sahibganj and Bihar’s Patna flat, locked under PMLA amid revelations of a multi-crore laundering racket.

Stemming from joint probes by CBI, Dhanbad ACB, and Shikarpada station, the case spotlights Kumar’s reign of terror across four branches. Posing as steward, he plundered from vulnerable profiles—expired pensions and illiterate farmers’ credit lines—via relentless bogus debits.

The Rs 5.40 crore booty was laundered via an intricate chain of brokers, NGOs, and ghost outfits, masterfully concealing tracks. Such ingenuity in crime demands equally robust countermeasures.

Probe momentum builds toward implicating more elites in this cabal. This attachment not only recovers ill-gotten gains but signals zero tolerance for insider threats. India’s anti-corruption machinery gears up for comprehensive sweeps, safeguarding savers from predatory insiders.