Tejashwi Yadav's 4-storied bungalow in Delhi valued at Rs 150 cr was bought for Rs 4 lakh, says ED

Amid a series of raids on former Bihar Chief Minister Lalu Yadav's daughters and son's premises, the Enforcement Directorate has said that Tejashwi Yadav's four-storied bungalow in Delhi’s upscale New Friends Colony was purchased for just Rs 4 lakh and its market price is now Rs 150 crore.

"It is suspected that huge amount of cash/proceeds of crime has been infused in purchasing this property and few Mumbai-based entities, dealing in the gems and jewellery sector were used to channel ill-gotten proceeds of crime in this regard," the ED alleged, according to a report by news agency PTI.

The report further revealed that while the property has been declared as the office of AB Exports Private Limited and AK Infosystems Pvt Ltd on paper, it is being used exclusively as a residential property by Tejashwi Yadav.

The ED also said that it has seized "unaccounted cash" of Rs 1 crore and detected proceeds of crime worth Rs 600 crore after it raided RJD chief Lalu Prasad's family in connection with a money laundering case linked to the railways land for job 'scam' linked money laundering case, as per PTI.

It said the investigation is underway to unearth more investments made on behalf of Prasad's family and their associates in various sectors, including real estate, at various places.

This comes after the Central Bureau of Investigation (CBI) had recently questioned Lalu Prasad and his wife Rabri Devi -- former chief ministers of Bihar -- in the case.

It is alleged that many people were given employment in the railways in return for land parcels gifted or sold at cheap rates to the Yadav family and its associates during Prasad's tenure as the railway minister in the UPA government from 2004 to 2009.

The ED in a statement on Saturday said that searches resulted in the recovery of unaccounted cash of Rs 1 crore, foreign currency including $ 1,900, 540 gms gold bullion and over 1.5 kg of gold jewellery worth about Rs 1.25 crore.

The financial probe agency has also recovered incriminating documents, including various property documents and sale deeds, in the names of members of the Yadav family and benamidaars, indicating illegal accretion of huge plots of land and electronic devices.

(With PTI inputs)

Also Read: ED says Rs 1 crore cash, Rs 600 crore in crime proceeds found in raids against Lalu Prasad's family

Also Read: Land-for-jobs scam case: ED raids Tejashwi Yadav’s Delhi home, 15 other locations in 3 states