ED raids 14 sites in Haryana embezzlement case involving ₹645 crore

This is a press release from the Directorate of Enforcement (ED) announcing search operations conducted under the Prevention of Money Laundering Act (PMLA) regarding the alleged embezzlement of ₹645 Crore in public funds from the Government of Haryana and Chandigarh Municipal Corporation. It matters to citizens as it details the recovery of assets and the legal actions taken against individuals accused of laundering these funds.

Who it concerns: The Directorate of Enforcement (ED), the Government of Haryana, the Chandigarh Municipal Corporation, the Haryana Police, the CBI, the Special Court (PMLA) in Panchkula, and the accused individuals including jewellers (Malik Jewellers, KLG Jewels, M.B. Gold Traders, Sham Jewellers, Sunder Jewellers), Ribhav Rishi, and six Haryana-cadre IAS officers.

What the ED says it did

• ED conducted searches at 14 premises in Chandigarh, Mohali, and Panchkula.
• The investigation concerns the alleged embezzlement of ₹645 Crore from bank accounts of the Development and Panchayat Department, Haryana, held with IDFC First Bank and AU Small Finance Bank.
• ED arrested four accused persons for money laundering.
• ED attached, seized, and frozen movable and immovable assets worth approximately ₹211 Crore.
• During the recent searches, ED recovered and seized ₹4.30 Crore in cash and froze bank balances of approximately ₹22 Crore.
• ED filed a Prosecution Complaint against 14 accused persons before the Special Court (PMLA), Panchkula.
• The CBI filed a third chargesheet naming six Haryana-cadre IAS officers and other government servants in connection with the bank fraud.

Also in the document

• The investigation was initiated based on an FIR registered by Haryana Police in February 2026.
• Specific amounts allegedly received by jewellers were identified: Malik Jewellers (₹58 Crore), KLG Group (₹26 Crore), M.B. Gold Traders (₹5 Crore), Sham Jewellers (₹3.66 Crore), and Sunder Jewellers (₹3.15 Crore).
• Ribhav Rishi is identified in the text as the alleged mastermind who purportedly floated intermediate shell entities.
• Gourav Kansal is alleged to have acted as a middleman in routing and layering the proceeds of crime.