CA allegedly involved in Rs.3269 Cr Bank Fraud Case arrested by ED

1. The Enforcement Directorate (ED) has arrested the Chartered Accountant who was allegedly involved in an Rs. 3269 Crore bank fraud case.

2. Raman Bhuraria, a Delhi-based Chartered Accountant was arrested on Friday for his “assistance and complicity” in the alleged fraud. Later in the day, he was produced before a special Prevention of Money Laundering Act (PMLA) court here that sent him to ED custody till August 20. It was further alleged that siphoning of the funds was being done through fictitious sale or purchase through various dummy and other entities.

“This arrest was in continuation of rejection of his (Bhuraria’s) anticipatory bail by the Hon’ble special court and searches conducted by the department on various locations pertaining to the arrestee,” the ED said in a statement.

“During the search action, various incriminating documents and digital evidence have been recovered,” it claimed.

“The allegations against the accused (Bhuraria) include his active assistance and involvement in the bank fraud by way of round-tripping through related entities.”

“Siphoning off the funds was being done through the fictitious sale and purchase through various dummy and other entities,” the ED alleged.

3. The ED registered a case of money laundering on the basis of an FIR registered by CBI against Shakti Bhog Foods Limited and others, for criminal conspiracy, cheating, and criminal misconduct.

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