Vigilance approaches ED to probe alleged financial irregularities against Akali leader Majithia

Punjab Vigilance has approached the Enforcement Directorate (ED) regarding the allegations of financial irregularities against former minister and Akali leader Bikram Singh Majithia. The department has written a letter to the central investigative agency asking it to initiate a probe into the alleged illegal transactions worth ₹736.96 crore.

Vigilance officials allege that Majithia was the mastermind behind this entire illegal network and also reaped all the major benefits. According to the department's probe, family members, partners, and paper firms were used to hide the alleged black money generated from drug sales.

During the investigation, it is also claimed to have come to light that several bogus companies were floated to conceal the real source of the alleged illegal amount and to legitimize it. In addition, allegations have been made that funds were transferred through offshore companies in Singapore and Cyprus.

According to Vigilance, this allegedly illegal wealth was used to create massive properties in the names of relatives and close associates. These are stated to include valuable movable and immovable properties, including aircraft.

Nothing has yet been proved in court.

Key developments

• Vigilance writes to ED to probe alleged illegal transactions of ₹736.96 crore
• Allegations against Majithia of laundering black money through bogus companies
• Claim of sending funds abroad via Cyprus and Singapore