Rs 875 crore investment fraud, many big businessmen lost money, reveals ED probe

Date:

Nagpur: Following the arrest of Pankaj Nandlal Mehadia (45) by the Economic Offences Wing (EOW) of Nagpur police in the Rs 8.16 crore investment fraud last November, the Enforcement Directorate (ED) has started a probe on the money laundering angle, according to a report in a local Dainik Bhaskar ( DB ) daily.

The report said that the ED has found dealing of Rs 875 crore in the accounts of five companies of Pankaj Mehadia and his associates. More than 450 entries of names have been found registered in the dubious companies. Most of the entries were made to turn black money into white money. The FIR in this matter was registered only after the ED probe confirmed the dubious dealings. Some of the entries are of some big names having entries of Rs 40-50 crore. When confronted, some of the names kept quiet, some could not give proper replies, and some candidly admitted dealing with the concerned companies and losing money. Though the list of names is a long one, some came forward to throw light on their dealings.

Share post:

Subscribe

Popular

More like this
Related

New Announcement by Meta: Changing WhatsApp Business Pricing

Meta has officially announced significant updates to WhatsApp Business...

Pioneering Global Excellence: DMIHER’S Maiden Performance in Times Higher Education (THE) World University Rankings 2025

"DMIHER Achieves Global Milestone: Debut Performance in Times Higher...

Building on Decades of Cooperation: Länd Here Campaign Invites Skilled Workers From Maharashtra to Germany’s Baden-württemberg

Decades of Partnership: Länd Here Campaign Welcomes Skilled Workers...