The action was taken on the basis of two FIRs lodged at Civil Lines police station in Gaya in which people complained of large sum of money being deposited into their accounts without their knowledge, SHO Jamil Akhtar said.
In a crackdown on black money hoarders in the state, a joint team of police and income tax officials have conducted raids and traced Rs 11 crore deposited in five bank accounts in Bihar’s Gaya district till Thursday evening.
The action was taken on the basis of two FIRs lodged at Civil Lines police station in Gaya in which people complained of large sum of money being deposited into their accounts without their knowledge, SHO Jamil Akhtar said.
The raids commenced on Tuesday and preliminary investigations pointed to the involvement of one Moti Lal, a cotton mill owner residing in Patwatoli locality of Gaya, a police source said.
“Till now, Rs 11 crore has been traced in five accounts but we expect the sum may go beyond Rs 100 crore deposited in about 50 bank accounts once we finish the raids. We are browsing through bank account statements and other documents as well as interrogating Lal and his employees to get more information in the matter,” an income tax official said.
He added, “Prima facie he appears to be the kingpin of a racket that converted black money into white. We are investigating whether all money belonged to him or others are also involved in it. Indications are there that part of the corpus may belong to Naxailes in Bihar and Jharkhand.” Gaya is one of the LWE affected districts in Bihar.
Police officials said all accounts are of Bank of India, GB road branch, and police is also probing the involvement of bank officials in this matter. “In some cases, apart from depositing old notes, new currency notes have even been withdrawn from the accounts without the information of the account holder. Such transactions may have been performed in nexus with bankers,” they added. CCTV camera footage of the bank is also under investigation.
The Enforcement Directorate officials said they are also likely to lodge an Enforcement Case Investigation Report (ECIR) in this matter.
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