Jaipur: The Enforcement Directorate (ED) on Tuesday conducted raids at multiple locations, including the residence of senior Congress leader and former Rajasthan minister Pratap Singh Khachariyawas, in connection with the Rs 48,000-crore PACL Ponzi scam.
The operation is linked to a 2015 Central Bureau of Investigation (CBI) case, which alleged that PACL India Limited and its directors duped lakhs of investors through illegal collective investment schemes. The ED is now examining whether a portion of the scam’s proceeds were funneled through entities associated with Khachariyawas.
Officials confirmed searches were carried out at around 15 locations, with Khachariyawas’ Jaipur home among the key sites. A Central Reserve Police Force (CRPF) team was also deployed to assist with the large-scale operation.
So far, the ED has attached assets worth Rs 706 crore, including two overseas properties in Australia valued at Rs 462 crore. Two chargesheets have been filed in the case against PACL, its late founder Nirmal Singh Bhangoo—who passed away in August 2023—and other accused.
Speaking to the media from outside his ancestral home, Khachariyawas, a nephew of former Vice President Bhairon Singh Shekhawat, denied any involvement in the scam and claimed the raid was politically orchestrated.
“This is clearly politically motivated. I’ve consistently spoken out against the central government, and this is their way of trying to scare and silence me,” he said.
He added that while ED officials presented a search notice, it did not specify any direct link to PACL or its entities. “They are within their rights to conduct a search, but I have nothing to hide. I have six lawyers ready and will respond legally if required,” he said confidently.
As word of the raids spread, a crowd of supporters gathered outside his residence, chanting slogans in solidarity. Khachariyawas maintained that the action was a clear case of misuse of power to target opposition leaders.
