ED Arrests 2 Business Tycoons, Allegedly Entangled in Money Launder Act
By F9 Team : 22-Mar-2017
NEW DELHI: The New Delhi’s Enforcement Directorate, imprisons 2 Delhi-based business tycoons on Wednesday. As per the investigation reports, these business mates had swindled cash transactions worth Rs. 8,000 crore. The identified suspects were recognised as Surendra Kumar Jain and Virendra Jain who had been sent for a 10 days remand by the law organisational firm.
This incident had come into the companies light when the ED had filed a criminal complaint under the Money Laundering Prevention Act (PMLA). Along with them 26 of other alleged investment schemes of Rs. 62.20 crore have been identified by the same act. Hence about 90 such fake services are under the tight scrutiny measures of the ED.