Don't want to miss the best from Business Standard?
The Enforcement Directorate (ED) has attached assets worth Rs 386.58 crore of several people accused of money laundering and defrauding Syndicate Bank here.
The agency said on Thursday that it has filed a complaint against 81 people including key accused Bharat Bomb, Shankar Lal Khandelwal, some bank officials and others before Special Court (PMLA) in Jaipur.
During the investigation, it was revealed that from 2011 to 2016, mastermind Bharat Bomb, who is a Chartered Accountant based in Udaipur and Shankar Lal Khandelwal, a Jaipur-based builder, defrauded the bank by adopting different modus operandi and caused the bank a huge loss in collusion with some bank officials.
The tainted money earned by the fraudsters was either invested in immovable assets or transferred in various bank accounts through a complex maze of transactions, the ED said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app