Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs. 39.28 Crore belonging to Veerendra Kumar Ram and his family members. The properties include farmhouse, flats, Duplex Bunglow, land at Delhi, Jamshedpur and Ranchi, and three bank accounts having collective balance of around Rs 36 lakhs.

ED had initiated money laundering investigation on the basis of FIR registered by ACB Jamshedpur. Investigation revealed that Veerendra Kumar Ram posted as Chief Engineer in Rural Works Department in Ranchi had generated proceeds of crime in the name of commission from contractors in name of allotment of tenders to them. The proceeds of crime thus generated were used by Veerendra Kumar Ram and his family members to live a very lavish lifestyle. Earlier search was conducted at 30 premises related to Veerendra Kumar Ram in different cities of India and as a result, various incriminating evidences were found and seized. Further, during the course of search action cash of Rs 40 lakh (approx), 7 high ends luxurious vehicles and jewelleries worth Rs 1.51 Crore were found and seized which were later found to be the part of proceeds of crime acquired by him. Subsequently Veerendra Kumar Ram was arrested by ED on 23.02.2023 after being found guilty of offence of Money laundering and presently in Hotwar Jail, Ranchi. In this case, Alok Ranjan, cousin of Veerendra Kumar Ram was also arrested on 11.04.2023 as he was found to be assisting Veerendra Kumar Ram in laundering the proceeds of crime in the present case. Both Veerendra Kumar Ram and Alok Ranjan are in judicial custody.