During its investigation into a multi-crore codeine cough syrup racket, the Varanasi Police have uncovered properties worth nearly ₹40 crore in the city allegedly linked to prime accused Shubham Jaiswal (33) and his close associates.

Police have also issued a lookout circular (LOC) and announced a ₹50,000 reward for information leading to Jaiswal’s arrest.

Accused suspected to be abroad

Varanasi Police Commissioner Mohit Agarwal said intelligence inputs suggest that Jaiswal has fled the country and is suspected to be hiding in Dubai.

“Besides Shubham Jaiswal, lookout circulars have been issued against three other accused. A reward has been announced for information leading to Jaiswal’s arrest,” Agarwal said.

Properties under verification

Authorities have launched a comprehensive verification exercise to examine land records, building approvals and transaction histories of the identified properties. Multiple government agencies, including the registry office and tehsil administration, have been roped in to verify ownership details.

Police are also probing the source of funds used to acquire these assets, suspecting that the money may have been generated through the illegal trafficking of codeine-based cough syrup.

Officials clarified that coercive action against the properties will be taken only after documentary evidence and ownership records are conclusively established. The total value of assets under scrutiny may increase as verification continues.

VDA joins probe

The Varanasi Development Authority (VDA) has been asked to examine whether the constructions conform to approved maps and permissions, raising the possibility of action on regulatory violations as well.

Widening crackdown across UP

So far, 78 people have been arrested across Uttar Pradesh in connection with the racket, and action has been initiated against 134 firms, officials said.

Given the scale of the operation, the Uttar Pradesh government has constituted a three-member Special Investigation Team (SIT) headed by an Inspector General-rank officer. The SIT is probing illegal storage, sale and trafficking of narcotic medicines, financial transactions linked to the racket, and suspected money laundering.

The team has also been tasked with initiating extradition proceedings against accused persons who have fled the country to evade arrest.