ED Raids Uncover Multi-Crore Dairy Fraud in Maharashtra

The Enforcement Directorate launched a series of raids in Maharashtra to investigate a massive fraud in the dairy sector. Linked to entities like Vidyanand Dairy and Vidyanand Agro Feed, the alleged scam amounts to Rs 108.30 crores. The probe is part of a broader investigation into money laundering and corruption.

The Enforcement Directorate (ED) conducted extensive searches across five locations in Maharashtra's Baramati and Pune districts on Wednesday. These sites are linked to a colossal fraud in the dairy sector, involving businesses like Vidyanand Dairy Pvt Ltd and Vidyanand Agro Feed Pvt Ltd.

According to the ED's Mumbai zonal office, the raids are carried out under section 17 of the Prevention of Money Laundering Act, 2022. The investigation stems from three FIRs filed by Maharashtra police which allege a total fraud of Rs 108.30 crores.

Officials accused Anand Satish Lokhande and family members of misleading investors with promises of high profits in dairy operations. Funds were allegedly misused, routed through multiple entities and accounts. In a related development in Delhi, ED filed a chargesheet against former Delhi Minister Satyendar Jain, involved in a Rs 17.70 crore money laundering case concerning Delhi Jal Board tenders.

(With inputs from agencies.)