Rs 5.4 crore scam: ED seizes ex-SBI manager’s assets in Bihar, Jharkhand

New Delhi — In a major action, the Directorate of Enforcement (ED) has attached two immovable properties linked to a former State Bank of India (SBI) branch manager accused in a Rs 5.4 crore fraud case involving pension accounts.

The properties — a residential house in Jharkhand’s Sahebganj and a flat in Patna — are collectively valued at around Rs 97.92 lakh and were held in the name of Manoj Kumar and his relatives. The attachment has been carried out under the Prevention of Money Laundering Act (PMLA), 2002.

The ED began its investigation following multiple cases registered by the CBI and local police authorities. As per findings, Kumar allegedly exploited his official role across several postings, including Barhait Bazar and Phulbanga branches, to siphon off funds.

The agency said the accused carried out hundreds of unauthorised debit transactions targeting accounts of deceased pensioners, inactive customers, and KCC borrowers. The funds were then layered through a network of intermediary accounts, NGOs, and shell firms to hide the trail.

The total proceeds generated through these illegal activities have been pegged at Rs 5.4 crore.

Separately, the government recently highlighted the ED’s performance under the PMLA, noting over 900 arrests and more than 4,300 cases registered in the past five years, along with convictions in the majority of cases filed.

With inputs from IANS