Police Trace Stolen Ram Temple Funds to Stocks; 23 From Donation Counting Team Quit Citing Long Hours
New Delhi: The Special Investigation Team (SIT)-led probe into the stolen Ram temple donation funds has widened as investigators are now looking into the stock market after it was found that the accused not only tried to conceal the money trail but also generate profits from it.
According to a report by The New Indian Express, Ayodhya police searched houses of the accused again and have allegedly also frozen their bank accounts.
Police reportedly took accused Anukalp Mishra to his home on Thursday (July 9), searched the premises and questioned his family members. During questioning, Mishra allegedly told them that he and co-accused Avinash Shukla had invested the stolen funds in the stock market.
Cautious planning
Per the report, in a well-carved out plan, the duo also allegedly lent money at interest and transferred funds into the bank accounts of their relatives and close acquaintances before re-routing the money back into their own accounts.
Previous police searches had led to the recovery of around Rs 1.5 lakh in cash, gold jewellery, including earrings and pendants, as well as a car registered in the name of Mishra's father.Investigators had also recovered Rs 20.39 lakh from Anukalp – the highest cash recovery among the eight arrested so far.
Meanwhile, the three-member SIT identified Avinash Shukla as the prime accused in the case.
On Wednesday, police had taken co-accused Lavkush Mishra and Karunesh Pandey to their homes to conduct searches.
“The exercise was carried out in the presence of forensic experts and independent witnesses. Officers questioned family members, examined documents and searched for electronic devices, investment records and other financial evidence that could help establish the money trail,” a police source told the daily.
As many as 30 bank accounts of the accused and their relatives have been frozen, while the police have also reportedly recovered forged donation receipts from their possession.
Financial investigators are probing to match banking transactions with stock market investments, property purchases and cash recoveries.
Donation counting system exploited
According to investigators, as reported by TNIE, the accused exploited loopholes in the temple’s donation counting system and removed cash in small quantities during the counting process to avoid detection.
They then seemingly parked the stolen funds in bank accounts for a while before investing it in financial markets in order to earn returns.
Financial experts have been roped in to determine the total amount allegedly invested in stock markets. Brokerage accounts, trading statements, mobile applications used for investing and digital payment records are being examined, per the report.
Earlier reports stated that the SIT probe would include a financial forensic audit, to “reconstruct the temple’s entire donation trail” since the inauguration of the temple in 2024.
As per a report by HT, the Ayodhya police were also probing the role played by staff of the State Bank of India (SBI).
Cash counting employees quit
Earlier this week, 23 employees engaged in counting donations and offerings at the Ram temple reportedly submitted their collective resignation, alleging they were made to work long shifts and paid low wages. Now, only 13 cash-counting personnel remain at the temple.
No official of the Shri Ram Janmabhoomi Teerth Kshetra Trust was willing to say anything on the issue. The job is carried out by SBI's Naya Ghat branch and hired personnel through an outsourced agency. The staff reportedly said that after the donation controversy came to light, they were working in one shift from 9am to 6pm instead of two shifts earlier.
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