"ED Unveils Rs 6 Crore Fraud Scheme Tied to MP Businessman's Tragic Suicide: Shocking 'Layered' Scam Exposed"

Welcome to the Latest Update on a High-Stakes Money Laundering Probe

The Enforcement Directorate's Bhopal Zonal Office has taken a significant step in the ongoing investigation by filing a Prosecution Complaint (PC) on January 28, 2026. The complaint targets Mark Pius Karari, the former Branch Manager of Punjab National Bank in Ashta, Sehore district, along with four others.

More than a year after the tragic suicides of Madhya Pradesh businessman Manoj Parmar and his wife Neha, the Enforcement Directorate (ED) has brought forward serious accusations. The prosecution complaint in the money laundering probe suggests that Parmar availed fraudulent loans exceeding Rs 6 crore under two government schemes.

The ED's Bhopal Zonal Office lodged the complaint under the Prevention of Money Laundering Act (PMLA), 2002, before the Special Court (PMLA). Subsequently, the court issued notices to the accused individuals. According to the ED's findings, Parmar allegedly orchestrated a sophisticated fraud scheme with the assistance of bank officials.

The investigation revealed that Parmar obtained 18 loans amounting to Rs 62 crore in 2016 under the Pradhan Mantri Employment Generation Programme (PMEGP) and the Chief Minister Yuva Udyami Yojana (CMYUY). However, further scrutiny by the ED discovered discrepancies, with many borrowers denying involvement or receipt of any loans.

The agency alleged that fraudulent loan funds were diverted into accounts controlled by Parmar and his associates. These funds were then circulated between multiple entities to obfuscate their origin, withdrawn as cash, and used for property acquisitions. The ED highlighted the deliberate diversion of public funds, classifying it as Proceeds of Crime.

Prior to the recent PC filing, the ED had provisionally attached 12 immovable properties valued at approximately Rs 208 crore in Ashta and Sehore, all linked to Parmar and his network. The case originated from a FIR filed by the Central Bureau of Investigation (CBI) in Bhopal, which led to a subsequent charge-sheet and the initiation of a parallel money laundering inquiry by the ED.

The developments in this case have unfolded against the backdrop of Parmar's untimely demise. Following the suicides of Parmar and his wife, a suicide note was recovered, shedding light on the intense pressure they faced due to the ED investigation. The case has garnered attention for its complex web of financial deceit and alleged misuse of government funds.

As the legal proceedings progress and the investigation delves deeper, the implications of this money laundering probe continue to reverberate through the financial sector in Madhya Pradesh.