Home / Business and Economy / Enforcement Directorate Raids Vuenow Group in Alleged Money Laundering Case
Enforcement Directorate Raids Vuenow Group in Alleged Money Laundering Case
15 Aug
Summary
- Enforcement Directorate searched premises of Vuenow group
- Seized cash, devices, records, and property worth $8.4 million
- Investigation related to money laundering allegations against the group
On Thursday, the Enforcement Directorate carried out raids on the premises of the Vuenow group of companies, including IT solutions firm Vuenow Infratech, in connection with a money laundering investigation. The agency seized cash, electronic devices, "incriminating records," and shares and immovable property worth 737.2 million rupees ($8.4 million) during the search operations across Punjab, Haryana, and Maharashtra.
The Enforcement Directorate's action comes as part of an ongoing probe into alleged financial irregularities and money laundering activities related to the Vuenow group. The group, which provides IT and consulting services, has not yet responded to requests for comment on the matter.
Authorities are closely examining the financial transactions and activities of the Vuenow group, including its director Rahul Anand Bhargav, to determine the extent of any potential wrongdoing. The investigation is still ongoing, and further details are expected to emerge in the coming days as the Enforcement Directorate continues its scrutiny of the group's operations.
