Jun 20, 06:56 AM

ED Conducts Raids and Arrests in ₹2000 Crore Fraud Case, UP Bank Prevents ₹120 Crore Fraud, 7 Arrested

The Enforcement Directorate (ED) has been actively conducting raids and arrests related to various money laundering and fraud cases across India. Recently, the ED arrested Manideep Mago under the Prevention of Money Laundering Act (PMLA) in connection with an illegal foreign remittances case involving an international Hawala syndicate in Delhi. Additionally, the ED conducted raids at 35 locations, including Delhi, NCR, Mumbai, and Nagpur, targeting the Amtek Group in a fraud case worth ₹2000 crore, which led to losses between ₹10,000-15,000 crore. The ED also raided eight locations in Telangana linked to BRS MLA Gudem Mahipal Reddy and his brother Gudem Madhusudan Reddy in a money laundering case related to illegal mining. Furthermore, the ED's Mumbai office filed prosecution complaints in money laundering cases against M/s Jagat Agro Commodities Pvt. Ltd. and M/s Ess Dee Aluminium Ltd., involving multiple accused. Separately, UP Bank officials prevented a ₹120 crore fraud, leading to the arrest of seven individuals.

#Enforcement Directorate #ED #India #Manideep Mago #PMLA #Hawala #Delhi #NCR #Mumbai #Nagpur #Amtek Group #Telangana #BRS #Gudem Mahipal Reddy #Gudem Madhusudan Reddy #UP Bank

Written with ChatGPT (GPT-4o).

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