VISAKHAPATNAM: The officials of the Directorate of Enforcement (ED) conducted searches at six locations in Andhra Pradesh and Telangana on Wednesday under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with an investigation regarding fraud in the sanction of loans under Kisan Credit Card (KCC) to farmers for construction of fish tanks.
The searches conducted at the residences and office premises of loan aggregators resulted in the recovery and seizure of digital devices and incriminating documents revealing numerous immovable and movable properties acquired from the proceeds of crime.
