SAHEBGANJ: The Directorate of Enforcement (ED) has provisionally attached two immovable properties worth ₹97.92 lakh in connection with a bank fraud and money laundering case involving a former official of State Bank of India (SBI), authorities said on March 19.
The properties belong to Manoj Kumar, a former branch manager at SBI, and his family members. The assets include a residential house in Sahibganj, Jharkhand, and a flat in Patna, Bihar. The attachment has been carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Officials described the action as part of an ongoing effort to trace and secure assets allegedly linked to proceeds of crime generated through financial misconduct.
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Case Built on Multiple FIRs and Charge Sheets
The ED’s investigation stems from multiple First Information Reports and charge sheets filed by agencies including the Central Bureau of Investigation (CBI), the Anti-Corruption Bureau in Dhanbad, and the Shikaripara Police Station.
ED, Ranchi Zonal Office, has provisionally attached two immovable properties with a total value of Rs. 97.92 Lakh in the form of residential house in Sahebganj, Jharkhand, and a flat in Patna, Bihar, belonging to Manoj Kumar, former Branch Manager of State Bank of India (SBI),… pic.twitter.com/Cj9YTSCDkt
— ED (@dir_ed) March 19, 2026
According to officials, the predicate offenses outlined in these cases include criminal conspiracy, cheating, forgery, and misconduct by a public servant under the Indian Penal Code and the Prevention of Corruption Act, 1988.
The layering of charges across jurisdictions reflects what investigators describe as a sustained pattern of financial irregularities, rather than isolated incidents.
Alleged Modus Operandi Involved Vulnerable Account Holders
Investigators say that Manoj Kumar, during his tenure at various SBI branches — including Sahibganj, Barhait Bazar, Phulbanga, and Shikaripara — allegedly abused his official position to orchestrate unauthorized transactions.
The alleged scheme involved executing hundreds of debit transactions from the accounts of vulnerable customers, including deceased or inactive account holders and illiterate beneficiaries of Kisan Credit Card (KCC) loans.
Authorities said the transactions were carried out without authorization, targeting individuals less likely to detect or challenge irregularities in their accounts.
Complex Network Used to Obscure Money Trail
According to the ED, the diverted funds were routed through a network of intermediary accounts, non-governmental organizations, and shell entities. This structure, officials said, was designed to obscure the origin and movement of funds. The agency has estimated the total “proceeds of crime” in the case at approximately ₹5.40 crore.
While the provisional attachment marks a significant step in the investigation, officials noted that further inquiries are ongoing to identify additional assets and individuals who may be connected to the alleged scheme.
