<h1>ED PMLA probe finds multi-crore fake ITC fraud with bogus invoices, fake e-way bills, layered fund transfers, assets frozen</h1> The Enforcement Directorate, investigating a PMLA-registered case, conducted multi-state searches in a multi-crore alleged fake input tax credit (ITC) fraud and found systematic bogus invoicing, fake e-way bills, layered fund transfers and fictitious turnovers across several entities. A non-existent supplier in Assam allegedly issued bogus invoices feeding into other firms that claimed inflated ITC - including transfers to large multinational purchasers, according to the ED. Searches led to freezing of bank balances, seizure of property documents and recovery of records; some proprietors reportedly admitted availing fake ITC while others allegedly fabricated turnovers and siphoned GST refunds. Investigation is ongoing.