ED conducts fresh searches in PMC bank money laundering case

In Maharashtra, the Enforcement Directorate yesterday conducted fresh searches at a posh bungalow located in Alibaug in connection with the PMC bank money laundering case.

According to officials, the 22-room bungalow is linked to HDIL promoters Wadhawan’s and has been sealed by the agency after the raid. The agency has also seized jewellery worth 60 crore rupees, a business jet, 15 cars, two fixed deposits worth 1.5 crores and  10 crore rupees in connection with the investigation of the case. The searches were being conducted after a criminal complaint was filed under the Prevention of Money Laundering Act by the Central agency.

Based on a complaint by an RBI-appointed Administrator, the police complaint was filed earlier last week on charges of forgery, cheating and criminal conspiracy against the officials.

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