The Enforcement Directorate (ED) has launched extensive searches across Maharashtra against self-styled godman Ashok Kharat in a money laundering case linked to allegations of sexual exploitation, extortion and financial fraud.
Acting under the Prevention of Money Laundering Act (PMLA), officials conducted raids at 11 locations across Nashik, Pune and Shirdi, covering residences, business premises and key financial entities.
A major focus of the investigation is the suspected misuse of cooperative credit societies, which are believed to have been used as conduits to route and layer illicit funds. Sources indicate that these credit co-operatives may have facilitated deposits and transactions to obscure the origin of money, raising concerns over regulatory oversight in the sector.
The action highlights growing scrutiny of cooperative financial institutions, particularly smaller credit societies, amid concerns that governance gaps can make them vulnerable to misuse in financial crimes.
ED has not disclosed names of any credit co-ops involved in the case so far.
