ED Targets Political Consultancy I-PAC in Hawala Probe

The Enforcement Directorate has summoned Rishi Raj Singh, director of I-PAC, in relation to a money laundering case linked to hawala transactions. I-PAC, known for its political consultancy services, is under scrutiny for alleged financial irregularities in receiving and moving funds, potentially connected to a larger coal scam investigation.

The Enforcement Directorate (ED) has issued a summons to Rishi Raj Singh, director of I-PAC, a prominent political consultancy firm, for questioning in a money laundering case tied to hawala transactions. Officials disclosed the development on Sunday.

Founded in 2015, I-PAC assists various political entities, including those in power in poll-bound states like West Bengal's TMC and Tamil Nadu's DMK. Singh, alongside his fellow founders Vinesh Chandel and Pratik Jain, is under investigation for alleged financial misconduct, including dealing with both accounted and unaccounted funds.

The ED's probe is rooted in allegations of serious financial irregularities, including laundering about Rs 50 crore, securing unsecured loans without business justification, and using fake bills and invoices. This investigation is reportedly linked to a broader coal scam case, where ED activities have sparked controversy involving West Bengal's Chief Minister, Mamata Banerjee.

(With inputs from agencies.)