Photo: IANS
Lucknow: The investigation into the alleged embezzlement of donation funds from the Ram temple has expanded, with investigators examining claims that a portion of the stolen money was invested in the stock market and other financial instruments to conceal the money trail and generate profits.
According to sources familiar with the investigation, Ayodhya Police have conducted fresh searches at the residences of the accused and have reportedly frozen several bank accounts linked to them. On Thursday, police took accused Anukalp Mishra to his residence, searched the premises and questioned his family members, The New Indian Express reported.
During interrogation, Anukalp allegedly told investigators that he and co-accused Avinash Shukla had invested part of the misappropriated donation money in the stock market. He also allegedly claimed that the accused lent money at interest and routed funds through the bank accounts of relatives and close associates before transferring the money back into their own accounts.
On Wednesday, police had taken two other accused, Lavkush Mishra and Karunesh Pandey, to their residences for similar searches. All three accused are on a 40-hour police remand.
Sources said the searches were conducted in the presence of forensic experts and independent witnesses. Investigators reportedly questioned family members, examined documents and searched for electronic devices, investment records and other financial evidence that could help trace the movement of the funds.
According to sources, police have frozen around 30 bank accounts belonging to the accused and their relatives after allegedly identifying transactions disproportionate to their declared income. Investigators also reportedly recovered forged donation receipts during the searches.
Officials are examining the bank accounts to compare financial transactions with stock market investments, property purchases and cash recoveries. Investigators suspect that some of these accounts may have been used to receive, transfer or temporarily hold the alleged embezzled funds before they were invested or withdrawn for personal use.
According to investigators, the accused allegedly exploited loopholes in the temple's donation counting process by removing cash in small amounts to avoid detection. Rather than spending the money immediately, they are suspected of investing it in financial markets to earn returns.
Sources said the investigation has now shifted beyond recovering the allegedly stolen money to tracing the complete financial trail, including where the funds were invested, how they were used and who ultimately benefited. Financial experts have reportedly been brought in to determine the total amount allegedly invested, while brokerage accounts, trading records, investment applications and digital payment data are being scrutinised.
Investigators are also examining whether profits generated through the alleged investments were withdrawn, reinvested or used to acquire additional assets. Preliminary findings have reportedly indicated that some of the accused accumulated assets disproportionate to their known sources of income.