ED registers money laundering case in PMC Bank loan fraud
The economic offences wing (EOW) of the Mumbai police arrested Housing Development & Infrastructure (HDIL) promoter Rakesh Wadhawan and his son Sarang Wadhawan on Thursday in connection with the Punjab and Maharashtra Co-operative (PMC) Bank scam.
The EOW also seized assets worth Rs 3,500 crore of HDIL.Sources said former PMC Bank managing director Joy Thomas’ accounts had been seized, and the police also searched the residence of S Waryam Singh, the bank’s former chairman, and confiscated one of his demat accounts having investments of Rs 100 crore.
In a press conference, an EOW official said the police were searching for Thomas and others named in the First Information Report (FIR) on irregularities at0 PMC Bank. The FIR was registered by the police on September 30. Meanwhile, the Enforcement Directorate (ED) registered a criminal case of money laundering against Waryam Singh, Joy Thomas, HDIL’s Wadhawans, and the other officials and entities named in the FIR.
Confirming the development, an ED official said an Enforcement Case Information Report (ECIR) had been filed on Thursday under the Prevention of Money Laundering Act (PMLA) to probe the alleged fund diversion at PMC Bank. An ECIR is the ED’s equivalent of a police FIR…
No comments:
Post a Comment