Bank loan fraud: ED arrests 2 on money laundering charges in Hyderabad

The case pertains to the accused fraudulently availing loans, in connivance with others, from a consortium of banks and subsequent default of loans to the tune of Rs 1,768 crore, ED said in a statement said. "Investigation so far has unearthed 33 shell companies and more than forty contractors in this case," the ED said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2TwhqaK