The Enforcement Directorate (ED) has seized and frozen movable assets worth around Rs 59 crore after carrying out extensive searches at 14 locations in Mumbai as part of its money-laundering investigation into Rajendra Lodha and his associates, the agency announced on Friday, reported the IANS.

The operation, conducted on Wednesday under the Prevention of Money Laundering Act (PMLA), 2002, resulted in the recovery of large amounts of cash, bank balances, fixed deposits and several incriminating documents, according to the ED. Digital devices and details of immovable assets allegedly linked to the suspected fraud—amounting to several crores of rupees—were also seized, according to the IANS.