ED Raids AAP MLA's Residence in Punjab Amid ₹48,000 Crore Chit Fund Scam Probe

Chandigarh (The Uttam Hindu): The Enforcement Directorate (ED) on Tuesday conducted a raid at the residence of an Aam Aadmi Party (AAP) MLA in Punjab, intensifying its investigation into the ₹48,000 crore chit fund scam that has impacted thousands of investors across the country. The search operation is part of a larger crackdown involving multiple locations nationwide, including key financial hubs like Delhi, Mumbai, and Kolkata.

Officials confirmed that the ongoing probe focuses on allegations of massive financial misappropriation by chit fund operators who failed to repay investors and instead diverted funds for personal gain. The ED is examining a complex network of transactions and has seized documents, digital records, and other evidence during the raids.

The raid on the AAP legislator’s premises marks a significant political development as the agency attempts to unravel the depth of involvement by various individuals in the scam. With the search operation still underway, further disclosures are expected as investigators trace the money trail and identify beneficiaries of the fraudulent scheme.