ED raids six locations in Srinagar in Rs 250 cr money laundering case related to J-K Bank
THE JHARKHAND STORY DESK Srinagar, Nov 30: In connection with the Rs 250 crore money laundering case, the Enforcement Directorate searched…
THE JHARKHAND STORY DESK
Srinagar, Nov 30: In connection with the Rs 250 crore money laundering case, the Enforcement Directorate searched six locations in Srinagar on Thursday that were connected to the Jammu-Kashmir Bank, officials stated.
The fraudulent activities were linked to a fictitious entity named the River Jhelum Cooperative House Building Society. The Enforcement Directorate’s office in Srinagar carried out the searches under Section 17 of the Prevention of Money Laundering Act (PMLA).
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The former bank chairperson’s premises was among the locations searched, they stated.
The searches were connected to a banking fraud exceeding Rs 250 crore, conducted under the guise of a non-existent housing society named the River Jhelum Cooperative Housing Building Society. This society was not officially registered with the Registrar Co-operative Societies in Jammu and Kashmir.
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