TNR News Network
DHARAMSHALA: The Enforcement Directorate (ED) on Saturday (December 13, 2025) carried out coordinated raids at multiple locations in Himachal Pradesh’s Kangra and Mandi districts in connection with a high-profile cryptocurrency fraud estimated at around Rs 2,000 crore. Official sources said the central agency has identified at least 78 individuals in the state who are under its scanner, and further action may follow at other locations.
Teams of the ED simultaneously launched search operations in Sundernagar in Mandi district and Nagrota Bagwan in Kangra district early in the morning. The raids are part of an ongoing money-laundering investigation linked to alleged large-scale cheating of investors through crypto-related schemes.
Simultaneous searches at multiple locations
In Kangra district, ED officials conducted searches at two residential premises in the Tharu and Kabari areas of the Nagrota Bagwan Assembly constituency around 7 am. Officers were seen examining documents and digital records related to cryptocurrency transactions. The operation remained underway for several hours, with officials questioning occupants regarding financial dealings connected to the case.
In Sundernagar, ED teams raided the residence of Ravikant, a resident of Chambi village under Sundernagar tehsil, along with premises linked to one of his associates. Ravikant is accused of duping investors of crores of rupees through crypto investments. The searches continued for hours as officials scrutinised documents, electronic devices and transaction records.
PMLA angle, local police not informed
Sources said the case is being probed under provisions of the Prevention of Money Laundering Act (PMLA). During the operation in Nagrota Bagwan, ED officials also questioned a retired electricity board officer and a pharmacist. One of the persons under scrutiny is reportedly involved in the school bus business and had earlier invested in cryptocurrency, allegedly persuading others to invest as well.
The ED teams reportedly reached some locations as early as 5 am, triggering widespread discussion in the area. Notably, the local police were not informed in advance about the raids.
