ED probing hawala trader Paras Mal Lodha’s black money across India

29 Decedmber, Kolkata

The Enforcement Directorate (ED) probing the hawala trader Paras Mal Lodha’s black money across India today searched his accounts in a city bank and seized huge quantity of diamonds, gold and incriminating certificates worth crores of rupees.

A five-member ED officials first searched Lodha’s office at Behala and home in Ballygunj and finally in a bank and recovered manyvaluable ornaments and incriminating documents, which were now under investigation. They said the investigation would continue since some papers relatedto a Swiss bank account were being probed by the experts.

The ED officials, who arrested the hawala trader from Mumbai airport last week before fleeing to Malaysia, have been searching office, residence and bank accounts of Lodha. Lodha has huge and varied business interests, including promoting apartment, developing land, and real estates and has huge connectionwith people in power, both at the Centre and state.

Lodha was arrested for allegedly converting more than Rs 25 crore demonetised notes linked to industrialist J. Sekhar Reddy and Delhi lawyer Rohit Tandon into new notes. The ED booked Lodha under the provisions of the Prevention of MoneyLaundering Act.