Cash Rain During ED Raids in Mohali Shocks Residents
'Cash rain' during ED raids in Punjab's Mohali, bags filled with Rs 500 notes thrown from luxury high-rise leaves morning walkers shocked
The Economic TimesImage: The Economic Times
During Enforcement Directorate (ED) raids in Mohali, Punjab, residents of a luxury high-rise shocked morning walkers by throwing bags filled with cash out of a ninth-floor window. The operation targeted influential builders linked to a money laundering investigation involving fraudulent land use licenses.
- 01ED raids targeted influential builders in Mohali, Punjab.
- 02Residents threw bags filled with cash during the operation.
- 03Approximately ₹20 lakh (roughly $24,000 USD) in cash was involved.
- 04The investigation focuses on fraudulent land use licenses.
- 05Nitin Gohal, an IT professional, is under scrutiny for his alleged role.
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In a dramatic turn of events during a money laundering investigation by the Enforcement Directorate (ED) in Mohali, Punjab, residents of a luxury high-rise building threw bags of cash from a ninth-floor window. The ED was conducting raids at multiple locations targeting influential builders and facilitators involved in obtaining fraudulent change of land use (CLU) licenses. Witnesses reported seeing bundles of ₹500 notes raining down as morning walkers stumbled upon the cash. The bags reportedly contained nearly ₹20 lakh (approximately $24,000 USD) in cash. One bag was seized by the ED, while a suspect fled the scene with another bag. The investigation is linked to allegations of large-scale financial fraud and is expected to expand as officials scrutinize documents and financial transactions related to the case.
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The incident has raised significant concerns about corruption and financial fraud in the local real estate sector, potentially affecting investor confidence.
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