On Sunday, people familiar with the situation said the Enforcement Directorate (ED) seized a property in the Lahaul-Spiti district of Himachal Pradesh as part of its money-laundering investigation into a former National Security Guards (NSG) officer who is suspected of committing a fraud worth ₹123 crore.
The ED entered the investigation after the Gurugram police arrested Parveen Yadav in 2022 and discovered that he had been involved in money laundering and asset purchases at multiple locations. As a deputy commandant in the NSG, Yadav is accused of posing as an Indian Police Service (IPS) officer and defrauding contractors by offering them contracts with the elite commando organization in exchange for large sums of money.
Along with 52 movable and immovable properties valued at ₹48 crore, the financial crimes investigation team found fraud totaling ₹123 crore. Five immovable properties, “including a plot worth ₹28.94 lakh in Moj Bok Kothi, Kolong in Lahaul-Spiti district,” have been seized by officials under the Prevention of Money Laundering Act (PMLA). According to officials, this is the agency’s first attachment and occupancy of a property in the district, which is located at an elevation of more than 4,200 meters.
Yadav had joined the NSG on deputation as a deputy commandant from the Border Security Force (BSF). According to a senior official who shared information about Yadav’s alleged contract fraud, “he posed as an IPS officer with the authority to allocate tenders of the elite commando force on the NSG Manesar campus.” During his meetings with NSG contractors, he would show the complainants the tender documents and provide an invitation to apply. The officer continued, “He then faked signatures and claimed to be the Group Commander of NSG.” For instance, Yadav had offered fake tender of NSG’s residential quarters. “He used to send the tender related papers to the complainants through speed post or directly handed over to them in their respective offices. He even took help of one of his relatives to show the NSG residential quarters to the contractors,” the officer said.
According to agency officials, Yadav enlisted the assistance of his sister Rituraj Yadav, the branch manager of Axis Bank, Sector-83, Gurugram, to register an EMD (earnest money deposit) bank account under the name “EMD for Central Warehouse (NSG)”. A second officer stated that Parveen Yadav siphoned off the money to his SBI account or to the account of a company in which his wife was a director after the complainants were later offered larger sums and larger tenders. According to the officer, Yadav later applied to leave his position with the BSG.
The contractors deposited a total of ₹123 crore into the EMD account. Of this sum, ₹37 crore was siphoned off to Parveen Yadav’s SBI account, ₹2 crore to his wife Mamata’s account, ₹59 crore to Koshia Enterprises’ (a Yadav-affiliated company) accounts, and ₹19 crore to the accounts of entities owned by one Kiranpal Yadav, who was the complainant in one of the first information reports (FIRs) and an accomplice in three other FIRs, according to the ED investigation.
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