ED Sensational Cases: In The Name Of Bank Loans Rs. 65,000 Cr Accounts
Delhi/Hyderabad, Aug 18 (Maxim News): For some time now, the Enforcement Directorate has been keeping an eye on the illegal earners. In this order, raids are often done on suspects, and unaccounted money is seized.
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ED revealed to the media that they have defrauded the banks in the name of bank loans and have so far raked in Rs. 65,279 crores. ED explained that over the last few years, 1,160 cases of money laundering have been committed by bank loan frauds.
174 people were arrested in those cases. The Enforcement Directorate seized Rs. 65,279 crores obtained by cheating banks. ED has already returned around Rs. 15,185 crores to the banks that had already lent them. According to the ED, Rs. 725 crores have been confiscated in connection with those who fled after committing financial crimes.
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The ED revealed that there are still 473 provisional orders and 314 prosecution complaints (chargesheets filed) before the court set up for cases under the Prevention of Money Laundering Act (PMLA) in some cases, the trials ended and eight accused were convicted. Around Rs. 15,295 crores have been confiscated. (Maxim News)
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