The Enforcement Directorate (ED) has arrested the Indian director of a Hong Kong-based company on money laundering charges linked to alleged multi-crore bank fraud “under the guise of” merchant trade, the agency said.
The ED case was booked after taking cognisance of a July, 2009 FIR of the Bengaluru police.
Under sections of the Prevention of Money Laundering Act (PMLA), Anup Nagaral, director of Hoewelai Jinsu, was arrested and a special court has sent him to judicial custody till January 17.
Nagaral was also arrested by the CBI in December last year in the same case.
(With inputs from PTI)
