In a major operation that shook the city’s bullion market, the Enforcement Directorate (ED) conducted simultaneous raids on Thursday morning at multiple premises linked to well-known jeweller Purushottam Kawde. Searches were carried out at his residence and office in Impress City, after which ED officials took him into custody for further interrogation, creating a buzz in Nagpur’s business circles.
Kawde also faced action at his jewellery store, Sagar Jewellers, in Itwari and his residence near Gandhisagar in Indiranagar. This is not the first time Kawde has been under scrutiny—he was previously arrested by the Directorate of Revenue Intelligence (DRI) in a gold smuggling case.
In a parallel crackdown, the ED also raided the residence and office of Shailesh Lakhotia in Wardhaman Nagar. Lakhotia is suspected of involvement in hawala transactions and online betting activities. His name has appeared in financial crime investigations before. Notably, his family made headlines in 2007–08 when his two brothers were murdered during a robbery.
These back-to-back operations have once again brought financial irregularities in Nagpur into the spotlight. The city’s business community now awaits the ED’s next move as the investigation progresses.
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