Home > Nation > ED nabs 7 in K’taka, seizes Rs 91.94 lakh in new notes

ED nabs 7 in K’taka, seizes Rs 91.94 lakh in new notes

 MPost |  2016-12-14 23:13:12.0  |  Bengaluru

Unearthing a racket involved in the illegal conversion of demonetised notes, the ED has arrested seven alleged middlemen and seized Rs 91.94 lakh in new currency in Karnataka as part of its money laundering probe. 

Officials said the agency arrested the accused, including the brother-in-law of a state government official, under the provisions of the Prevention of Money Laundering Act (PMLA). The seized cash, the agency said, is in the form of Rs 2,000 notes. 

The case emerges from a December 1 seizure made by the Income Tax department here of Rs 5.7 crore in Rs 2000 notes. The Enforcement Directorate had booked a money laundering case against a number of people including S C Jayachandra, a Project Officer of State Highway Development Project, and others based on a CBI FIR in the case. Jayachandra was later arrested by the Enforcement Directorate (ED). 

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