Lucknow: ED Conducts Raids in Money Laundering Probe Against Ex-U.P. Invest Chief

Quick Summary

• Case Overview: The Enforcement directorate (ED) conducted searches in the city on August 7,2025,as part of a money laundering probe involving suspended IAS officer and ex-Invest Uttar Pradesh CEO Abhishek Prakash.
• Key Allegations: Abhishek Prakash and alleged middleman Nikant jain are accused of soliciting bribes from investors to facilitate official project approvals.
• Search Locations: ED searched four premises linked to Mr. Jain-his residence in Viram Khand, Gomti Nagar; two office locations related to him and his family; and a hotel where his family members are directors.
• Background of Investigation:

– The inquiry began after a solar industry investor lodged complaints about bribery demands during project facilitation thru Invest U.P.,the state’s investment promotion agency headed by Mr. Prakash at the time.
– Mr.Jain allegedly demanded a 5% commission for approvals and threatened bureaucratic delays if payments were not made.

• Actions Taken So Far:

– Mr. Jain was earlier arrested by state police connected with these allegations.
– Abhishek Prakash was suspended in March following accusations made in this case.

Indian Opinion Analysis

the ongoing investigation raises concerns over corruption practices within bureaucratic systems intended for investment promotion,casting doubt on how efficiently business facilitation operates under alleged conflicts of interest. If substantiated, such incidents may deter future investments critical for Uttar Pradesh’s development efforts, especially sectors like solar energy where India has ambitious targets. This case highlights systemic governance issues that seem to create unneeded barriers for entrepreneurs unless wrongful demands are met-signaling broader implications for investor trust across both state-run initiatives and administrative frameworks nationally.

Read more at The Hindu.