The Enforcement Directorate (ED) recently conducted searches at 24 locations in Delhi NCR, Patna, Mumbai, and Ranchi in connection with the Railways Land for Job Scam. The searches were based on specific intelligence inputs, and they resulted in the recovery of unaccounted cash of Rs 1 Crore, foreign currency of USD 1900, 540 gms gold bullion, and more than 1.5 kg of gold jewellery worth Rs 1.25 Crores approximately. Several other incriminating documents, including property documents, sale deeds, etc. held in the names of family members and benamidaars, indicating illegal accretion of a huge land bank, and electronic devices were also recovered.
The searches led to the detection of ‘Proceeds of Crime’ amounting to Rs 600 Crore approximately at this point in time. The ‘Proceeds of Crime’ are in the form of immovable properties worth Rs 350 Crore and transactions of Rs 250 Crore routed through various benamidaars.
The investigation conducted under the Prevention of Money Laundering Act (PMLA) revealed that several pieces of land at prominent locations in Patna and other areas were illegally acquired by the family of the then Rail Mantri, Lalu Prasad Yadav, in lieu of jobs provided in Railways. The current market value of these land parcels is more than Rs 200 Crore. In this regard, several benamidars, shell entities, and beneficial owners for these lands have been identified.
Further investigation under PMLA revealed that the property situated at D-1088, New Friends Colony, Delhi, registered in the name of M/s A B Exports Private Limited, a company owned and controlled by Tejashwi Prasad Yadav and family, was shown to have been acquired at a value of mere Rs 4 Lakhs, the present market value of which is approximately Rs 150 Crore. It is suspected that a huge amount of cash/Proceeds of Crime has been infused in purchasing this property, and few Mumbai-based entities dealing in the gems and jewellery sector were used to channel ill-gotten proceeds of crime in this regard. During the searches, Tejasvi Prasad Yadav was found to be staying at this house and using it as his residential property.
ED investigation has found that four parcels of lands acquired by the family of Lalu Yadav in just Rs 7.5 Lakhs from poor Group-D applicants were sold to Syed Abu Dojana, Ex-RJD MLA, by Mrs. Rabri Devi with huge gains at Rs 3.5 Crore in a collusive deal. ED investigation further revealed that a major portion of the amount thus received was transferred to the account of Sh. Tejashwi Prasad Yadav. Investigations revealed that, in a similar fashion, lands were taken from several poor parents and candidates in lieu of Group D jobs in the Railways. It has been revealed during the investigation that, in many Railways Zones, more than 50% of recruited candidates were from Lalu Yadav families’ constituencies. Further investigation in this regard is ongoing.