Chhatrapati Sambhajinagar: The Enforcement Directorate (ED) raided branches of Dnyanradha Multi-State Cooperative Credit Society at Pune, Navi Mumbai and Beed on Monday.
The ED froze moveable assets valued at Rs 1.2 crore in bank funds and the demat account of Suresh Kute of the credit society. The Directorate also raided the divisional branch of the Credit Society at Garkheda on Saturday and seized important data from it.
Later, branches of the credit society at Beed, Pune, Mumbai and Navi Mumbai were raided. The ED team seized computer hard disc along with digital equipment. The ED froze moveable assets worth Rs 1.2 crore and demat account as per the provisions in the Prevention of Money-Laundering Act 2022.
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Probe continues in other businesses of accused
Suresh Kute of Dnyanradha took crores of deposits from citizens by luring them at a 12 to 13 percent interest rate. Along with this financial institutions, Kute has various companies like Tirumala Oil, dairy business, automobile engineering. Sources said that the transactions in his other businesses would also be investigated by the central investigation agencies.