ED arrests absconder wanted in ₹100-crore worth bank loan frauds

The Hindu | Jan 20, 2021 at 6:39 AM
  • The Enforcement Directorate on Tuesday said it has arrested an absconder who was wanted in alleged bank frauds worth about ₹100 crore under money laundering charges from the Ahmedabad international airport.
  • The ED money laundering case against the businessman is based on a 2018 CBI FIR that alleged that Patel and others “had committed fraud and cheated the SBI to the tune of ₹65.29 crore”.
  • The CBI in Chennai had also filed an FIR against them in 2016 after the Exim Bank filed a complaint against the accused.