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

Top Courses and Career Options after 12th Science 2024

Choosing the right career path after completing 12th grade...

The Innovation Hub: Exploring the Top Tech Companies in Seattle that are Revolutionizing

The Innovation Hub: Exploring the Top Tech Companies that...

IPL 2024: Full Schedule,Teams, Players List, Time Table, Venues.

The Indian Premier League (IPL) 2024 is set to...

Happy Holi 2024 Wishes, Whastapp Status, Quotes-Hindi,English

Holi, a highly anticipated and joyous festival of the...