ITC Scam: ED Raids 12 Locations Across Maharashtra, Jharkhand, and West Bengal in ₹750 Crore Fraud Probe

Thursday’s ED operation was part of a larger investigation into a sprawling network that allegedly used forged GST invoices to claim fraudulent ITC. The case revolves around the misuse of shell firms and unauthorized monetary conduits that enabled the laundering of criminal proceeds. Officials estimate that fake invoices valued around ₹5,000 crore were generated, leading to illegitimate ITC claims surpassing ₹730 crore. Deora’s role in managing and orchestrating these operations has come under intense scrutiny. The ED says that recent findings warranted further searches, which are now helping to trace additional actors involved in this sophisticated financial racket.

Jamshedpur, Jharkhand: The Enforcement Directorate (ED) conducted a raid at the residence of industrialist Gyan Jaiswal in Jamshedpur. A six-member ED team is carrying out a survey at his home and office in connection with a money laundering case. Jaiswal had earlier been jailed… pic.twitter.com/R86w1up97r

— IANS (@ians_india) August 7, 2025

Officials emphasized that the utilization of shell entities and fabricated invoices has become a recurring tactic in large-scale tax evasion and financial frauds. The current case is a strong example highlighting the urgent need for stricter oversight and surveillance in financial transactions. While the ED has not yet revealed whether arrests or significant seizures were made during the most recent raids, the agency confirmed that the investigation is far from over. Authorities expect new developments as the operation unfolds, and as financial relationships within the illicit network are thoroughly examined and dismantled through ongoing efforts.

Lucknow, Uttar Pradesh: The Enforcement Directorate conducted raids in Lucknow, Meerut, and Noida on locations linked to Nikant Jain, close aide of suspended IAS officer Abhishek Prakash, in a bribery case pic.twitter.com/yDca5vx7U2

— IANS (@ians_india) August 7, 2025

This crackdown marks another step in the Enforcement Directorate’s broader campaign against economic crimes and financial system abuse. The agency remains committed to targeting individuals and organizations misusing loopholes to divert public revenue for personal enrichment. Through stringent enforcement of laws like the PMLA, the ED continues to take proactive measures to protect the integrity of India’s financial infrastructure. As more evidence is uncovered and key figures brought to justice, officials say these actions serve as a deterrent to potential fraudsters looking to exploit the tax system through fraudulent documentation and opaque financial dealings.