ED arrests businessman for money laundering
Wednesday - May 3, 2017 1:08 pm ,
Category : BUSINESS
New Delhi/Mumbai May 3 (IANS) The Enforcement Directorate has arrested Vijay Madanlal Choudhary director of Zoom Developers in connection with a money laundering case the agency said on Wednesday.
ED arrests Vijay Choudhary director of Zoom Developers Pvt Ltd under PMLA (Prevention of Money Laundering Act) the agency tweeted.
Choudhary s name figures prominently on the wilful defaulters list it said.
His company reportedly owes Rs 3 002 crore collectively to 26 state-owned banks.
In 2011 the Central Bureau of Investigation had suspected loan fraud by the company.
Later ED registered a case and attached the company s properties including those in California.
--IANS
aks/in
