ED raids Rajasthan Congress leader in Rs 48,000 crore PACL Ponzi case
THE JHARKHAND STORY DESK Jaipur, April 15: The Enforcement Directorate on Tuesday carried out searches at the residence of senior Rajasthan…
THE JHARKHAND STORY DESK
Jaipur, April 15: The Enforcement Directorate on Tuesday carried out searches at the residence of senior Rajasthan Congress leader and former minister Pratap Singh Khachariyawas and others, in connection with a massive ₹48,000-crore Ponzi fraud involving PACL India Limited.
The investigation stems from a 2015 CBI case alleging that PACL and its directors defrauded lakhs of investors through fraudulent collective investment schemes.
Federal officials said around 15 locations were raided, including Khachariyawas’ Jaipur residence. The ED is probing whether a portion of the alleged proceeds of crime—believed to have been routed through various entities—have links to the Congress leader. A CRPF team was also deployed to support the ongoing operations.
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So far, the agency has attached assets worth ₹706 crore, including two properties in Australia valued at ₹462 crore. Two chargesheets have been filed against PACL, its late promoter Nirmal Singh Bhangoo who passed away in August last year, and others. .
Addressing the media outside his ancestral home, Khachariyawas, who is the nephew of former Vice President Bhairon Singh Shekhawat, denied any wrongdoing and accused the central agency of acting on political instructions. “This is politically motivated. I have always raised my voice against the government, and this raid is a way to intimidate me,” he said.
He added that ED officials presented a search notice but did not connect it to any specific company. “They are within their rights to search, but I am not afraid or anxious. I have six lawyers on my side. If there’s anything to respond to, I will,” he stated.
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As the news of the raids spread, his supporters gathered outside the residence, shouting slogans in his defence. Khachariyawas claimed the ED action was simply an attempt to silence him.
