Ranchi (FNO) :The Enforcement Directorate (ED) on Tuesday conducted extensive searches under the Foreign Exchange Management Act (FEMA) against Ranchi-based chartered accountant Naresh Kumar Kejriwal, who is under investigation for allegedly facilitating bogus telegraphic transfers amounting to nearly ₹900 crore.

According to ED officials, the CA is suspected of routing massive sums of money abroad through fraudulent documentation, shell firms, and fake invoices. Preliminary findings indicate that the foreign remittances were shown as payments for imports and services that never actually occurred.

Multiple premises linked to Kejriwal and associated entities were searched as part of the probe. The agency believes the racket may involve a network of middlemen, hawala operators, and front companies operating across state lines.

Officials said further action, including financial seizure and arrests, may follow after scrutiny of seized digital evidence and transaction records.