6 Luxury Cars, Rs 17 Crore Jewellery: What ED Found During Crackdown on Multi-Crore Extortion & Illegal Loan Racket

The Enforcement Directorate (ED) has unearthed a massive extortion and illegal loan settlement syndicate, leading to the seizure of over Rs 6 crore in cash, jewellery worth Rs 17 crore, cheque books and property documents valued at Rs 35 crore. The ED investigation centers around a Dubai-based fugitive, Inderjit Singh Yadav, an alleged "strongman" currently operating from Dubai, and his network of associates. The crackdown began on December 29, with the ED conducting searches at ten locations across Delhi, Gurugram, and Rohtak. The raids are part of a high-profile money laundering investigation stemming from more than 15 FIRs filed by the Haryana and Uttar Pradesh Police.During the initial phase of the operation, officials seized Rs 17 lakh

in cash and six luxury cars.

Who is Inderjit Singh Yadav?

Inderjit Singh Yadav is the promoter and key controller of M/s Gem Records Entertainment Pvt. Ltd. (Gems Tunes). The anti-money laundering probe agency claims Yadav has fled India and is currently absconding in the UAE.The agency says Yadav was an "enforcer" who facilitated the coercive settlement of private loan transactions and financial disputes totaling hundreds of crores. "These settlements were allegedly carried out through: threats and intimidation, armed associates and local gangs and organized crime syndicates operating internationally," said officials. "Yadav amassed hundreds of crores in commissions from corporations, using the proceeds to fund a lavish lifestyle and acquire high-end real estate while declaring minimal income in tax returns," ED said in a statement.Also Read: From Rolexes to Supercars: What ED Found in Rs 100-Crore Call Centre Scam Raids in Delhi-NCR

Major Recovery from South Delhi

On December 30 and 31, ED raided a South Delhi residence of Yadav’s aide, Aman Kumar. The recovery was so huge that bank officials were called in with cash-counting machines. The probe agency has said it has seized Rs 5.12 crore in cash. "A suitcase containing gold and diamond jewellery Rs 8 crore and documents for properties worth Rs 35 crore," said officials.In coordinated searches carried out at the residence and farmhouse of Sunil Gupta at Westend Green Farms. Investigators believe Aman Kumar attempted to "dissipate the proceeds of crime" by transferring large sums of money to Gupta following the start of the ED probe.Seizures from Sunil Gupta’s premises so far: Rs 1.22 crore in cash and jewellery valued at approximately Rs 8.50 crore. The search operation at Gupta’s premises is reportedly ongoing as officials continue to trace the money trail.