The Enforcement Directorate (ED) seized 19.5 kg of gold valued at Rs 14.04 crore from a locker belonging to a cyber fraudster, Puneet Kumar. The locker was maintained in the name of his mother at the Ballabgarh branch of Indian Bank in Faridabad, Haryana.

Punit Kumar, also known as Puneet Maheshwari, a resident of Moti Nagar in the national capital, was arrested on April 3 at the Arrival Hall, Terminal-3 of IGI Airport, while returning from Nepal. He was produced before the Delhi PMLA Court on the same day and granted ED custody for 12 days. He is presently under judicial custody.

The seizure follows specific intelligence indicating that Punit Kumar has hidden the proceeds of cybercrimes in the form of gold in a locker held at Indian Bank under his mother’s name. ED initiated an investigation based on FIRs lodged throughout India, including Delhi, Rajasthan, Uttar Pradesh, Haryana, Chandigarh, etc.