Advertisement

CMCM

Updated on: Thursday, May 30, 2019, 03:24 AM IST

Mumbai: Enforcement Directorate arrested bullion dealer for money Laundering

Advertisement

Mumbai: The Enforcement Directorate (ED) arrested Chandrakant Narsidas Patel of M/s Pushpak Bullions Pvt. Ltd., Mumbai on Friday for money laundering in the post demonetisation period.

“It was found that large cash deposits to the tune of Rs 84.5 crore were deposited in the account of one Pihu Gold and Satnam Jewels post-demonetisation. The said amount was deposited in cash within a short span of 41 days in November-December 2016. The funds were subsequently transferred to the account of Pushpak Bullion and further used towards purchase of 258 kg gold bullion,” a senior ED officer said. The account of Pushpak Bullion was already a declared Non-Performing Asset (NPA) account by the concerned bank. During the probe, Patel had emerged as the prima donna in this of money laundering scam post demonetization.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Advertisement
Published on: Saturday, September 23, 2017, 08:35 AM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement