Mumbai: ED Arrests The Green Billions CEO Prateek Kanakia In ₹50 Crore Money Laundering Case
The Enforcement Directorate arrested Prateek Kanakia, CEO of The Green Billions Ltd, for alleged money laundering linked to a Rs 50 crore loan fraud involving BECIL. The loan, meant for a Pune waste-to-energy project, was misused to fund a lavish lifestyle and luxury assets. Kanakia, previously booked by CBI, was remanded to ED custody until January 9.
Mumbai: ED Arrests The Green Billions CEO Prateek Kanakia In ₹50 Crore Money Laundering Case | File Pic
Mumbai: The Enforcement Directorate (ED) has arrested Prateek Kanakia, CEO of The Green Billions Ltd (TGBL), for money laundering allegations in connection with the Rs 50 crore loan fraud case linked to Broadcast Engineering Consultants India Ltd (BECIL).
The agency has claimed that funds were used to maintain a lavish lifestyle, to purchase luxury vehicles, and high-end residential properties in Mumbai and Delhi. Kanakia was booked by the CBI in September 2024, following which ED too began a probe into money laundering. The agency claimed the loan was taken for a waste-to-energy project in Pune but misused.
ALSO READ
The ED arrested Kanakia on Monday evening and he was produced before the court on Tuesday. ED prosecutor Abhinav Tiwari sought his custody, contending that he is the primary beneficiary of the proceeds of crime. The court remanded him to ED custody till January 9.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
RECENT STORIES
-
-
-
-
-