ED Arrests the former Eandaman MP Kuldeep Rai Sharma in £ 500 crore money laundering linked to the 'fraud' case

On Wednesday, September 17, the Maintenance Directorate (ED) arrested the leader of Congress, Kuldeep Rai Sharma, 58, a former Member of Parliament of Andaman and Nicobar Islands and two others in money laundering case. According to the Ed statement, Sharma is a former chairman of the Andaman Nicobar State Cooperative Bank (ANSCB). K Murugan, the managing director of the bank and Kalaivanan, the bank’s loan officer is arrested, other two, said it. The agency added a special prevention of money laundering (PMLA) in Kolkata, Sharma and Kalaivanan postponed to eight days of supervision with the ED. Officials said Murugan was not offered before the court as he was admitted to a hospital. The agency said the case involved an alleged fraud of more than £ 500, reportedly carried out by Cooperative Bank officials, including Sharma and others responsible for the loan approval. The ED said: “These persons have driven various tracking companies and sanctioned them, as well as for their regular entities in a major violation of the rules and the procedures of the bank with the sole intention of not repaying the funds, and thus causing losses to the bank.” The money laundering case comes from a fir submitted by the Crime and Economic Offenses of Andaman & Nicobar police. According to the ED, the investigation indicates that loans were approved by more than 100 accounts opened by the names of different firms and tracking companies, in a ‘complete disregard’ of the bank’s established procedures and guidelines, with the total amount involved in the ‘fraud’ more than 500 crore £. £ 230 Crore -Loan ‘deceptively taken for the benefit of Sharma and his co -workers’ testimony collected so far also indicates that a £ 230 crore loan amount has been fraudulently admitted for the benefit of Sharma and his co -workers, including the managing director (Murugan) and loan officer (Kalaivanan), ” Calaivanan accused of ‘fraudulently’ obtained loans from the bank by working on companies that were set up under the names of their family members. collapsed.