Enforcement Directorate arrests former Richa Industries resolution professional in money laundering case

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The Enforcement Directorate (ED) arrested Richa Industries' former resolution professional in a money laundering case. The arrest is linked to a scheme that defrauded public sector banks of approximately ₹236 crore between 2015 and 2018. The former professional allegedly facilitated money laundering by transferring funds through layered transactions. The ED's investigation revealed the acceptance of inflated claims and the formation of an illegal creditor committee, leading to significant losses for banks.


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Enforcement Directorate arrests former Richa Industries resolution professional in money laundering case | News Minimalist