The Enforcement Directorate (ED) has seized unaccounted assets worth over Rs 32 crore following raids at 13 locations in neighbouring Palghar district as part of an ongoing investigation into an alleged illegal land development and money laundering case.
The searches, carried out since Wednesday under the provisions of the Prevention of Money Laundering Act (PMLA), led to the recovery of Rs 9.04 crore in cash, and diamond-studded jewellery and bullion valued at approximately Rs 23.25 crore.
Officials also recovered a significant volume of documents considered incriminating.
A major portion of the seizure — Rs 8.6 crore in cash and jewellery and bullion worth Rs 23.25 crore — was recovered from the Mumbai residence of YS Reddy, deputy director of town planning, Vasai Virar Municipal Corporation (VVMC).
Investigators also recovered documents believed to expose a large-scale illegal construction scam in the Vasai Virar region, allegedly executed in collusion with VVMC officials.
