In a sweeping operation, the Income Tax Department has conducted raids across multiple locations in Jaipur, targeting high-profile wedding planners, caterers, and event organizers. The investigation revealed widespread financial irregularities, resulting in the seizure of ₹9.65 crore in cash and 12.61 kilograms of gold and silver jewelry. A cryptocurrency account linked to the implicated businesses was also discovered, marking a significant breakthrough in Rajasthan’s financial enforcement history.

The raids spanned 24 locations, focusing on businesses involved in Jaipur’s luxury wedding industry. Authorities allege that these companies have been engaged in large-scale tax evasion and money laundering, with unaccounted transactions reportedly exceeding ₹7,500 crore in the past year. These funds were allegedly moved through hawala channels and subsequently invested in cryptocurrencies, highlighting a sophisticated network designed to evade detection.

The identification of the cryptocurrency account underscores the evolving tactics used in financial malpractice. Officials are now tracing digital transactions to uncover the full extent of the illicit financial network. The seized assets, collectively valued at approximately ₹10.25 crore, are believed to be just the tip of the iceberg.

The crackdown has drawn attention to Jaipur’s luxury wedding industry, known for its extravagant events and significant cash dealings. Investigators are examining financial records of other prominent event management companies to identify potential violations of tax and foreign exchange regulations.

Evidence collected during the operation indicates connections to businesses in Delhi, Hyderabad, and Mumbai, suggesting a wider network of financial malpractices. Enforcement agencies in these cities are being roped in to expand the investigation and ensure compliance across regions.

This operation signifies the Income Tax Department’s commitment to addressing financial crimes, especially in sectors prone to high-value cash transactions. The integration of cryptocurrencies into traditional money laundering activities presents new challenges, requiring advanced tools and inter-agency cooperation for effective enforcement.

As the investigation continues, authorities are summoning key individuals from the implicated businesses for questioning. The primary aim is to dismantle the financial nexus and implement stringent measures to prevent future violations.

The recent findings serve as a stark reminder of the importance of financial transparency in industries that handle large cash flows. The Income Tax Department’s actions aim to set a precedent, deterring similar practices and fostering a culture of compliance across high-stakes sectors.