Chandigarh, 13 hours ago

The Enforcement Directorate (ED) has tightened the noose around Chandigarh-based financier and property dealer Ramlal Chaudhary, who rose from living in a slum to becoming a crorepati. The ED has filed a chargesheet against Ramlal and his son Amit Kumar in a money laundering case in the Chandigarh district court.

The court has issued notices to both accused to appear. The hearing in the ED special court in Chandigarh will begin on February 6. Ramlal had come into the spotlight about four years ago when Chandigarh Police arrested him in two major fraud cases involving crores of rupees. Following these cases, the ED started its probe.

After nearly three years of investigation, the ED has now filed the chargesheet under the Prevention of Money Laundering Act (PMLA). According to sources, Ramlal Chaudhary illegally amassed assets worth more than ₹150 crore over the past few years.

During this period, he also allegedly cheated a businessman from Gurugram and a retired officer from Rewari of crores of rupees. During police action, luxury cars including a BMW and a Mercedes were also recovered from him. The ED is now examining all his movable and immovable properties to trace how such a huge fortune was acquired.

How Ramlal built a ₹150-crore empire

• Worked as a laborer, came to Chandigarh in 1976:
  According to police, nearly five decades ago Ramlal worked as a daily-wage laborer. He came to Chandigarh in 1976 and started living in a slum in the Ramdarbar Colony. Initially, he did small jobs and ran a pushcart to make ends meet. Gradually, he built connections with police personnel and politicians and entered the finance business.

• Exploited closeness with police and leaders:
  The ED probe revealed that Ramlal used to collect hefty sums from people by luring them with promises of relief in police and administrative cases. Sources claim he even had influence in police transfers and postings. Through this network, he allegedly earned crores illegally.

• Named in ₹5-crore fraud against Gurugram businessman:
  About four years ago, Gurugram-based businessman Atulya Sharma lodged a complaint accusing Ramlal of cheating him of ₹5 crore in the name of investment. Sharma claimed he arranged the money by selling his Mumbai house and jewellery and by taking loans, but Ramlal later refused to return it. Ramlal was arrested following the complaint.

• Another fraud against retired officer led to ED probe:
  Another case was registered after a retired officer from Rewari alleged that Ramlal cheated him of ₹6 crore by promising relief in a vigilance case. After these two cases surfaced, the ED began a money laundering investigation against Ramlal and his family.

• Named in serious criminal cases earlier:
  Ramlal’s name has also figured in several criminal cases, including allegations of rape and murder, though he was later acquitted in those cases. In 2014, he, his daughter, and two shooters were arrested in the shooting death of a young model in Sector 49, but all were acquitted due to lack of evidence.