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ED searches five locations in Rs 600-crore ponzi probe

The searches are related to Kamal K Bakshi and A K Singh in relation to Uni Pay group ponzi scam

Press Trust of India  |  New Delhi 

Big lenders submit loan documents related to Kingfisher Airlines to ED

The ED on Friday conducted searches at five locations in the country in connection with a money laundering ponzi case worth Rs 600 crore.

"The searches at 5 places across India are related to Kamal K Bakshi and A K Singh in relation to ponzi scam. The total scam is over Rs 600 crore," the said in a statement.


A senior official said the agency had registered a criminal FIR under the (PMLA) based on a police FIR in the case.

Further details are awaited.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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