Hindustan Times ST (Jaipur)

ED books ex-manager of Maha co-op under PMLA

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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.

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