Bhopal News: Prevention Of Money Laundering Act Against Ex-Bank Manager, Factory Owner In Sehore

Bhopal (Madhya Pradesh): The Directorate of Enforcement (ED), Bhopal Zonal Office, has filed a prosecution complaint against Mark Pius Karari, former bank branch manager of Ashta, Sehore, and four others in connection with fraud involving Manoj Parmar and others, under the Prevention of Money Laundering Act (PMLA), 2002, officials said.

The Special Court (PMLA) has issued notices to the accused. The ED initiated its investigation following an FIR registered by CBI, Bhopal against Manoj Parmar, Mark Pius Karari, and others. A CBI charge-sheet had earlier been filed against Manoj and co-accused.

ED’s probe revealed that Manoj, with the help of Karari, fraudulently obtained 18 loans worth Rs 6.20 crore under the Pradhan Mantri Employment Generation Programme (PMEGP) and Chief Minister Yuva Udyami Yojana (CMYUY) in 2016. The loans, sanctioned using fake applicants, forged documents and fabricated quotations, saw Rs 6.01 crore actually disbursed.

Investigators found that bank sanction norms were ignored, second-level approvals bypassed and loans cleared beyond the Branch Manager’s financial powers. The funds were diverted into accounts of firms controlled by Manoj and associates, then routed through multiple linked entities, partly withdrawn in cash, and used to purchase properties in their names.

ED said the systematic layering and cash withdrawals of government-subsidised loans clearly show deliberate diversion of public money, forming Proceeds of Crime. Earlier, the ED had provisionally attached 12 immovable properties worth Rs 2.08 crore in Ashta, Sehore, linked to Manoj Parmar and others.