ED attaches assets worth Rs 45.32 crores in connection with fraud case

According to reports, the ED is probing the case based on an FIR filed earlier this year

Bengaluru: The Enforcement Directorate has attached movable and immovable assets amounting to Rs 45.32 crores under the Prevention of Money Laundering Act (PMLA), 2002 in connection with a co-operative bank fraud case.

According to a tweet by the agency, the property belonging to K Ramakrishna and others had been attached in connection with the case relating to Sri Guru Raghavendra Sahakara Bank Niyamitha and Sri Guru Sarvabhouma Credit Co-Operative Ltd.

According to reports, the ED is probing the case based on an FIR filed earlier this year, alleging that funds were withdrawn from the bank by creating fictitious loan accounts and the depositors did not get back their money.

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