ED books ex-manager of Maha co-op under PMLA
NEW DELHI :
The Enforcement Directorate Sunday said it has arrested an ex-manager of a Maharashtra-based cooperative society for his alleged involvement in laundering crores of funds using the overseas hawala route. The agency said Machindra Khade was arrested by it under the Prevention of Money Laundering Act for his “involvement in facilitating illegal cash deposits in various bank accounts of the society which were subsequently layered and then fraudulently remitted to Hong
Kong by submission of fake import documents in the guise of import of diamond”. It said the accused was former manager of Renukamata Multi-state Cooperative Urban Credit Society.